Real Madrid have allegedly reduced Cristiano Ronaldo ‘s release clause from €1bn (£873m) to €120m (£105m).

According to OK Diario , the clause cannot be triggered by Spanish teams and also includes small print excluding French giants Paris Saint-Germain too.

Ronaldo, who is currently on international duty with Portugal at the World Cup finals, dropped a strong hint that he will leave Real this summer after starring in their 3-1 victory over Liverpool in the Champions League final.

The report claims that four clubs have made firm offers for Ronaldo – Manchester City, AC Milan, Arsenal and Chelsea, although his former employers Manchester United have been tipped as the frontrunners to land him.

Ronaldo is expected to confirm where he will be playing his club football next season after the World Cup.