Paris Saint-Germain have seen UEFA’s Financial Fair-play Regulations being lifted over them this season and the oil rich club wanted to celebrate the occasion by signing their long term target Cristiano Ronaldo, according to AS.

The restrictions were lifted on them only this 3rd July and the owners met Real Madrid president Florentino Perez the very next day.

The subject of the discussion was not clear then but now AS is saying that Real Madrid have rejected a formal bid from PSG for 3 time Ballon d’Or winner Cristiano Ronaldo which is believed to be worth €120 million.

The transfer fee would have been a record, surpassing Gareth Bale’s transfer fee to Real Madrid worth €101 million.

Rotana, an Arab newspaper, reported that the owners of PSG met Real Madrid president Florentino Pérez in Doha on Saturday, 4 July, and made the bid to buy the Portuguese superstar, with the idea that the managerial change at Santiago Bernabeu could lead to the forward asking for a change.

The bid,alleged as of now, was made possible with cash from the Qatar Investment Authority, owned by the country’s royal family, and the fact that UEFA had lowered the Financial Fair Play restrictions on the French club.

Moreover PSG president Nasser Al-Khelaifi, as per report in Mlaib – another Arab paper – is a huge admirer of the Portuguese superstar, and was monitoring the situation of Ronaldo at the Los Blancos and his unhappiness with the sack of Carlo Ancelotti and recruiting Rafael Benitez as the new manager encouraged him to make a formal bid for the former Manchester United player.

As thing went PSG president was replied with a instant no by Perez who mentioned Ronaldo has a €1 billion buy-out clause.

Ronaldo is contracted to the 10 time European Champions until 2018 and earns €21 million per year although that would be no concern for the PSG owners.

    Snehanjan Banerjee closely follows English Premier League, La Liga, Bundesliga and Serie A along with other world football events.

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