The 37-year-old has one year left on his current contract at Old Trafford, but the player is thought to be disappointed with the ambition shown by the club in the transfer market.
Ronaldo returned to Old Trafford last year with the aim of winning more silverware, but he failed to guide the team to a trophy, and Manchester United failed to qualify for the Champions League either.
Although the player scored 24 goals across all competitions last season, it was a disappointing season for Manchester United, and Ronaldo is now looking to join a better team.
According to ESPN, an unnamed Saudi Arabian club have submitted an offer of around €30m to sign Cristiano Ronaldo from the Red Devils. They have offered to make him the world’s highest-paid player by offering wages of €275m for the next two seasons.
However, the report adds that Ronaldo is set to turn down the highly lucrative offer because he wants to play Champions League football next season and compete for major trophies in a competitive league.
Even though he is 37, the Portuguese international is still very much a world-class player, and he is good enough to play for a team challenging for league titles and Champions League trophies.
It will be interesting to see if Manchester United can convince him to stay for another year. Ten Hag wants the player to stay.
The Red Devils will have to strengthen the squad significantly to challenge the likes of Manchester City and Liverpool next year, and it remains to be seen how the transfer window pans out eventually.