Real Madrid must find £47M for Man Utd's Ronaldo

Real Madrid are ready to make a stunning £27 million bid for Manchester United wing ace Cristiano Ronaldo.

Neither United nor Real would comment on the report, which also claims that the Reds would want a near-world record of £47m to part company with the player they signed for £12m, says the Manchester Evening News.

But it is understood that Madrid have held an emergency board meeting during their Christmas break, after ending the year with a 3-0 defeat by humble Recreativo de Huelva.

The club's hierarchy wants team rebuilding to start in the January transfer window, and it is believed president Roman Calderon has listed Ronaldo as his top target.