Brazilian news agency Globo Esporte reports that Real Madrid rejected PSG’s £110 million offer for the 30-year-old star in the recently closed transfer window.
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PSG’s bid would’ve eclipsed the current world record fee Madrid paid Tottenham Hotspur for Gareth Bale in 2013.
Bale joined Ronaldo at Madrid for a staggering £85.3 million.
Ronaldo’s current contract expires in 2018 and the former Manchester United star has been linked with a return to Old Trafford in recent times.
The Real Madrid forward is the current holder of the Ballon d’Or.