UNCERTAIN FUTURE: Will Portugal star Cristiano Ronaldo be waving goodbye to Manchester United and the English premier League soon? -- PHOTO: AFP

And the club expect to draw 60,000 people for the event at their Santiago Bernabeu Stadium, where he will put pen to paper on a five-year contract worth 9 million euros ($19.2million) a year.

Ronaldo, 23, has even reportedly chosen a house in Madrid in the upmarket district of Morajela, close to where Real's president, Ramon Calderon, and coach, Bernd Schuster, live.

The Portuguese player has not commented on the reports.

Since his exit from Euro 2008, he has camped himself in Sardinia for a holiday with his Spanish fiancee, Nereida Gallardo,sailing around the Mediterranean on a £10 million luxury yacht.

But he remains in the public eye.

Pictures of the couple showering each other with kisses have become daily fare in the British tabloids, Nereida sizzling in her tiny bikinis, while Ronaldo, wearing just shorts, displays his taut body complete with a huge crucifix and diamond earrings.

He is not due back for pre-season training with Manchester United until July 14, but Real are anxious that United manager Alex Ferguson does not get the chance to persuade the winger to stay at Old Trafford.

Publicly, the Spanish giants are playing it cool, claiming there are happy to be 'passive spectators' in the off-season transfer saga.

Calderon told Marca on Wednesday that they will make no formal move until Ronaldo officially announces his intention to quit United, with whom he won the Premier League and the Champions League last season.

'If he continues to insist on wanting to come to Real and if Manchester let him leave, then we will ask what the price is,' he said.

'If the price is right and everyone's happy, then it won't turn sour.'

United assistant manager Carlos Queiroz has hinted reluctantly that the Red Devils may have to let Ronaldo go, even if he has signed a contract that theoretically ties him to the club until 2012.

'Contracts are becoming meaningless in football, for players and managers,' he said. 'It is a now often a case of dog eat dog.'

Ronaldo's loss will be a major blow to United. From 2003-04 to 2007-08, his Premier League goal tally has risen steadily: 4, 5, 9, 17 and 31. It reflects that his best is yet to come.

United's reliance on his goals would be difficult to overcome. Together with uncertainty over the future of forward Carlos Tevez, who is entering the final year of a two-year long deal, it could serve to leave the club unsettled for years to come.