The Portuguese forward has been without a club since leaving Manchester United earlier in December.
But he has not been a free agent for long.
There have been multiple rumours in the past few weeks claiming Ronaldo was set to sign a deal with Saudi Arabian outfit, Al-Nassr.
And he has now reportedly penned a two-and-a-half year contract with the Riyadh based club.
Ronaldo is said to have already completed the parts of his medical necessary to sign his contract while a second set of tests are expected to take place next week.
Al-Nassr are expected to announce the deal following an away game Saturday against Al Khaleej.
How much will Cristiano Ronaldo earn at Al-Nassr?
Marca reported earlier this month that the 37-year-old was set to sign an eye-watering €200m-per-year deal with the club. That has now been confirmed by journalist Fabrizio Romano.
That’s significantly more than Paris Saint-Germain duo Lionel Messi and Neymar who, according to the same report from Marca, currently earn €75 million and €70 million respectively.
How has Cristiano Ronaldo performed in the 2022/23 season?
Ronaldo has not been at his best in the 2022/23 season.
The Portuguese forward found game-time hard to come at United in the first half of the season.
Before his departure, he played 16 times for the Red Devils, scoring three times.
He also endured a frustrating World Cup, which saw him score just once in Qatar.
Ronaldo started each of Portugal’s group games but was demoted to the bench for Portugal’s two knockout games.
He was a second half substitute in Portugal’s quarter-final clash with Morocco but could not prevent his side losing 1-0 to the African outfit.
Ronaldo will be hoping to recapture his best form with Al-Nassr. He will join the likes of Vincent Aboubakar, Luiz Gustavo and David Ospina at the Saudi Arabian club.