The 37-year-old left Manchester United last month after making divisive comments about the team in a television appearance with Piers Morgan.
Rumors about the team Ronaldo will sign with have been circulating since he departed Old Trafford. The forward is a free agent at this time in the season.
On Monday, December 5, reports claimed the free agent hero was close to signing a lucrative contract with Al Nassr that would have seen the five-time Ballon d’Or winner earn close to €200 million (£173 million) every season.
Ronaldo, who is now a free agent, is expected to sign a contract with the Middle Eastern team at the beginning of next month, according to the Spanish outlet MARCA.
The publication asserted that the initial arrangement was worth about €100 million (£86 million), but that additional agreements like sponsorship and advertisement partnerships would have increased its value.
After Portugal’s 6-1 victory over Switzerland in the World Cup Round of 16, a game he did not start, the seasoned superstar denied rumors that he was considering moving to the Middle East.
Following the game, he told reporters, “No, that’s not true — not true.”
Al Nassr reportedly offered a two and a half year agreement that would last until the summer of 2025.
On Monday, sources close to Ronaldo told Sportsmail that rumors of a contract being finalized were “nonsense.”