The Portugal international is understood to have grown “really upset” at the Bernabeu due to an ongoing tax probe, being accused of defrauding the authorities of around £13m.
According to Spanish outlet Marca the 32-year-old, who has scored 406 goals in 394 appearances since joining Los Blancos from Manchester United for a then-record fee of £80m in 2009, is unwilling to reverse his decision.
It would take a bid of £874.88m to meet the buyout clause of the club’s all-time top scorer, however, and Madrid have further leverage as the Portuguese signed a new five-year deal last year.
Ronaldo is currently away on international duty with Portugal, where he is reported to have told his teammates: “I am leaving Real Madrid. I have made a decision. There is no turning back.”
Paris Saint-Germain and Man United are both rumoured to be interested in signing Ronaldo, who Madrid may allow to leave for a sum of £158m.