Real Madrid's next president will have the option to sign Cristiano Ronaldo in July after the current chief pushed through an agreement that will put everything in place for the transfer, according to a report.

Vicente Boluda, who will step down as interim president at the end of this season, has decided to press ahead with the deal and has signed all the necessary paperwork for Los Merengues to borrow around 70 million of the 100m transfer fee.

AS state that Ronaldo and his agent have also put pen-to-paper on a contract that would see Madrid receive a hefty compensation fee should the Portuguese star back out of a summer move.

One hitch still remains. AS has revealed that Sir Alex Ferguson's wrath is still likely to have an influence on any proposed move, and the Scot could well block the transfer.

Ronaldo's story filled newspapers in Spain and England last summer and look set to do so again this year, with AS already at the forefront of the rumours once more.

According to the paper, the Portuguese international would earn an annual salary of 12m, his agent would pocket a fee of 8m for brokering the deal, and the transfer fee would be around 100m.

If agreed, the move could leave the new president with a huge financial problem on his hands as the Spanish giants already said to be around 300 million in debt.