Cristiano Ronaldo 'rejects new Real Madrid contract'

Cristiano Ronaldo has allegedly rejected a big-money offer to stay at Real Madrid.

The Portugal international has turned down a contract worth £26.7m from Los Blancos, according to Tuttosport.

The five-time Ballon d'Or winner's future was cast into doubt in May when he hinted that Real's 3-1 victory over Liverpool in the Champions League final would be his final game for the club.

Ronaldo's former club Manchester United were immediately installed as the favourites to sign him, but the latest reports suggest that they face competition from Juventus and Paris Saint-Germain.

The player's agent Jorge Mendes is said to be plotting his client's departure from Real.