It took Manchester United just TWO HOURS to accept Real Madrid's £80 million offer for Cristiano Ronaldo.

The Times says David Gill, the United chief executive, was making his way to Geneva for a meeting with Fifa officials when his office received a fax from the Spanish club at about 6pm on Wednesday. Sources close to Gill insist that there was no warning from Real that a bid would be forthcoming.

Gill telephoned Sir Alex Ferguson first, then contacted Ronaldo's camp, before the matter was taken to the Glazer family, the club's owners, who insisted that the ultimate decision rested with Ferguson, at which point the manager gave the green light to sell the Portugal forward.

It is understood that United will receive the fee in four annual instalments of £20 million. Sources close to the Glazer family insist that Ferguson will be free to reinvest the money on players, despite the club being faced with an interest bill of £69 million last year on their £699 million of debt.