The Real Madrid winger, the biggest threat to United staying in the Champions League, had been linked with a return to Old Trafford.
But manager Ferguson, describing it as a "false hope", said: "I don't think there's anything, as far as I'm aware, that would encourage me to think he would come back here. I don't think there's anything in that at all.
"He has got two years left on his contract. It could be to do with the fact that negotiations are going on for a new contract. I think maybe his agent is playing the game, though I'm not prepared to comment on that."
Is Fergie just being coy? Or is Ronaldo now happy in Madrid? Give us your shout below...