Former Real president Florentino Perez, who is expected to announce on Thursday that he will stand in elections to head the club again, has already discussed the payment of the amount with Ronaldo's agent Jorge Mendes, it added.

But Perez may ultimately decide instead to recruit AC Milan's Brazilian playmaker Kaka as "he is less expensive and this would allow him to recruit more players", the newspaper added.

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Last month Ronaldo, who is under contract with United until 2012, said he was happy at Manchester when asked about persistent reports linking him with a move to Real.

Kaka, the 2007 FIFA World Footballer of the Year, has also said recently that he wants to stay at AC Milan.

Perez was president of Real between 2000 and 2006 when the team recruited top players like Luis Figo, Zinedine Zidane and David Beckham.

Real is slated to hold elections for president in June and Perez tops polls of the club's preferences even though he has not yet said he will run.