The 33-year-old is ready for a new challenge after nine years at Real Madrid and asked the club to let him go. The player and his agent, Jorge Mendes, met the Juventus chairman, Andrea Agnelli, in Greece on Tuesday to discuss the final details of the deal reckoned to be in the region of 120m.
It is estimated that the total cost of the transfer, including all fees and wages over the course of the proposed four-year contract, could total upwards of €400m.
Juventus will need to sell players to balance the books and one player who has already been linked with an exit is Gonzalo Higuain, reportedly a target for Chelsea.
Real Madrid released a statement on Tuesday saying that they had agreed to the transfer “at the will and the request of the player”.
The statement added: “Real Madrid would like to express its gratitude to a player who has proved to be the best in the world and who has made this one of the most brilliant times in the history of our club. Beyond the titles he won during these nine years, Cristiano Ronaldo has also been an example of dedication, work, responsibility, talent and constant improvement.”
The superstar, in an open letter to Real Madrid fans, said, “I only have feelings of enormous gratitude for this club and for this city. I have had nine absolutely wonderful years at the club. Real Madrid has conquered my heart, and that of my family, and that is why more than ever I want to say thank you: thank you to the club, the president, the directors, my colleagues, all the staff, doctors, physios and incredible people that make everything work.”
He finished his letter by saying: “Thanks to everyone and, of course, as I said that first time in our stadium nine years ago: Hala Madrid!”
Ronaldo joined Real Madrid in 2009 after six years at Manchester United.
He won four Champions League titles at Madrid and two league championships as well as two Spanish Cups and three FIFA Club World Cups. He also became Madrid’s record scorer with 451 goals in 438 games.
While there he won four Ballon d’Ors and three Golden Boots. Why has Ronaldo decided it is time to move on?
The impression is that the issue is not so much with supporters or team mates but specifically with the club president Florentino Perez.
The trust has gone which has manifested itself in a number of ways, from the fact that the club failed do more to appeal his five-match ban earlier this year to the fact that some at the highest level have drawn up post Zinedine Zidane rebuilding plans that do not involve Ronaldo.
For Real Madrid, it makes good business sense when you can get €100m and shed €55m from your wage bill for a 33-year-old player. Is this a good deal for Juventus?
In the 48 hours preceding the transfer, the value of Juventus in the stock market increased by twenty per cent.
The Turin club are totally dominant in Italian football having won seven consecutive Serie A titles and four consecutive league and cup doubles.
They are a European force but have not won the Champions League since the 1995/96 season, although they have reached two finals in the last five years.
With Ronaldo on their side, instead of standing in their way, they would fancy their chances of going one better. Only time will tell who made the right decision.