By Iva Finlay

It is over for Manchester United, as Madrid slam door on a £65million bid for Cristiano Ronaldo.

President of Real Madrid, Perez is ready to offer Ronaldo £125million over five years to sign a new contract, which he said will be finalized this summer.

Supposedly, Ronaldo’s agent has demanded a salary of £30million a year, but Real Madrid are sure, they will seal the deal at around £25m per season.

“I would bet Cristiano will retire at Real Madrid because it’s the natural thing” said Perez.

“We will negotiate the new contract before the start of La Liga and I am convinced that everything will come out well.”

United were hoping, that he would accept less money and return to the club that made him famous. They were prepared to offer Madrid £65m and to Ronaldo £15m a year to return to Old Trafford.

Perez has said to Spanish newspaper: “To renew Cristiano before the start of the season is my desire and my ambition.

“We all want that he retires at Real Madrid. We will do everything possible to make it happen.”

Ronaldo is the main key to Madrid’s astronomical £450m-a-year turnover.

Losing him would be disaster for Real’s finances which is reason to break a bank to keep hold of him.