Real Madrid president Florentino Perez is willing to be realistic about a price for Cristiano Ronaldo.

While there has been talk of a valuation of €200-400m, El Confidencial says Florentino is willing to consider a more 'affordable' fee to sell the Portugal international.

Real are prepared to sell for €120m - with clubs across Europe being made aware of the valuation.

However, for now, no club has come forward with a willingness to discuss terms.

It's understood Florentino is still counting on Manchester United and PSG to soon make an approach to discuss Ronaldo's sale.