Real are thought to be keen to do everything in their power to ensure that their talisman remains at the Bernabeu for years to come, as they did during the summer when Ronaldo last threatened to throw his toys out of the pram.
However, should they fail to convince him to stay Ronaldo will certainly be a man in demand, with three sides very keen on a move for the legend.
Naturally, the first interested party is former side Manchester United, Ronaldo's former stomping ground. The Portuguese scored 118 goals in 291 games for the club between 2003 and 2009 before making the move to the Spanish capital. A return to Old Trafford would tug on Ronaldo's heartstrings and the United faithful would certainly love to see their former hero return. You know what they say though, never go back.
Big-spending PSG hold a longstanding interest in the 32-year-old and it is thought that they would be keen to add the veteran frontman to what is quickly becoming the finest collection of attacking talent in any side in the world. However, given the Parisians' Financial Fair Play problems, it is unertain how they would manage to fund such a deal.
Finally, there is also the option of putting his feet up and heading for the US with a move to Major League Soccer. New franchise Los Angeles FC, who will compete in the league for the first time in 2018 remain on the lookout for a marquee signing and Ronaldo is known to be open to a move to the States as he looks to develop his commercial interests off the pitch.
As things stand it appears that Ronaldo will make his final decision following next summer's World Cup, giving Real plenty of time to convince their star to stay put.