Real Madrid president Florentino Perez has rejected a world record €120 MILLION offer from PSG for Cristiano Ronaldo.

Newspaper Rotana reports the owners of PSG met with Florentino Perez earlier this month and made an approach for the Portuguese superstar.

PSG president Nasse Al-Khelaifi was made aware of Ronaldo being unsettled at Real Madrid following the arrival of new boss Rafa Benitez.

However, he received little encouragement from Perez upon making his offer.

Indeed, Perez referred Al-Khelaifi to Ronaldo's €1 billion buyout clause to make clear what he thought of his proposal.