Real Madrid announce new Ronaldo contract agreement

Real Madrid have announced they've reached terms with Cristiano Ronaldo over a new contract.

Reports in the Spanish media suggest that the former Manchester United ace has agreed terms on a new three-year extension to his deal, which would commit him to the club until the summer of 2018.

It has also been reported that Ronaldo's salary has been increased to around 17m euros per year.

Real have in a media conference today confirmed the groundbreaking deal.