Florentino Perez won't break the bank for Manchester United star Cristiano Ronaldo.

Perez intends to stand for the Real Madrid elections and would be happy to sign Ronaldo as part of a big-money summer overhaul. But El Mundo Deportivo says he won't consider going higher than £60 million for the World Player of the Year.

That's over £20 million less than former Real president Ramon Calderon is said to have agreed with United last summer. The 'Ronaldo pact' is now in serious danger as Perez won't consider meeting Calderon's side of the agreement.