At a press conference on Tuesday, Raul retorted: "Madrid is the best thing that could happen to anyone.
"I have been here 14 years and I would not change it for anything."
The former Spain international also dismissed suggestions there would be dressing room unrest if Ronaldo joined on a lucrative deal.
"Any club would like to have Ronaldo. He's one of the best, one of the most tricky players in the world of football," said Raul.
"I think the good atmosphere would continue regardless of who comes in or what they earn. That unity can't be broken."