Real Madrid star Cristiano Ronaldo has renewed his contract with the club, which had been due to expire in 2015, the Spanish giants confirmed on Sunday.
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The Portuguese international will attend a ceremony at 1:45 pm (1145 GMT) with Real president Florentino Perez at Real Madrid's Santiago Bernabeu stadium to mark the renewal of his deal, the club said on its website.
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The 28-year-old's record since joining Madrid from Manchester United for a then world record €94 million back in 2009 has been phenomenal with the Portuguese scoring 203 times in 203 appearances.
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Real Madrid did not give details of the contract extention, but Spanish newspaper El Pais reported that the deal will run until 2018 and make Ronaldo the best paid player in the world.
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"The salary of the player will be close to €20 million, making him the best paid footballer in the world," it said.
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Four-time World Player of the Year Lionel Messi was the previous highest paid player in Spain with a salary of €16 million a season.
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The deal ends a series of drawn out negotiations that began back at the end of the 2011-12 season.
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Speculation then mounted that the Portuguese would leave the Spanish capital after he said he was "sad" in September last year and was believed to be upset at the lack of support offered to him by the club in his quest to reclaim the Balon d'Or, which Messi has won for the past four years.
Cristiano Ronaldo is the player Madrid needs to take them to greater heights when it comes to football in Spain and all over Europe!