Luciano Moggi, the former Juventus CEO, once tried to sign Ronaldo as a teenager.
Ronaldo signed a five-year deal with Madrid in 2016, saying he wanted to end his career at the club.
Last summer, Paris Saint-Germain pulled off a stunning transfer coup by snagging Neymar from Barcelona.
Madrid captain Ramos has played alongside Ronaldo throughout that time and has paid a special tribute ahead of his move to Juventus.
Reports surrounding Ronaldo's mooted transfer continued to escalate in the European press on Monday, giving a sense that all parties involved are heading to an agreement.
At the same time, Ronaldo's agent Jorge Mendes was believed to be meeting Real Madrid. He's won everything there is to win at the club, and maybe he wants another challenge.
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"These years at Real Madrid and in this city of Real Madrid have quite possibly be the happiest years of my life", he wrote.
Barnett said that his client will "speak to the [new] coach [Lopetegui] and we will go from there".
It remains to be seen if there was a deeper fallout between the star player and the club directory over the last month.
Cristiano Ronaldo's time in Spain is over.
The Italians would be getting the most in-form attacker in the world. Easily the world's biggest football transfer of all-time and, when you factor in wages and bonuses, it comes in at around half a billion US dollars.
Bale voiced frustration about his lack of regular games following his match-winning display in the Champions League final victory over Liverpool in May.
There it is, official announcement from Real Madrid.