"At the end of the season Cristiano Ronaldo will have two-years left on his contract," Calderon told talkSPORT. "In the last years of a deal you have to renew the contract or sell the player, otherwise there's no value for the club.
"I think Ronaldo has rejected the chance to talk about a new deal because, at the end of the year, he will wait and see what his future looks like at Real Madrid.
"What's going to happen at the end of the contract? I don't know. I would like him to stay. He's doing very well at Real Madrid, he's playing fantastically and is a very important part of the team."