However, Tebas believes that both the 33-year-old and Atletico Madrid's Barcelona-linked Antoine Griezmann will stay put in the Spanish capital, and played down the potential impact on Spanish football if Ronaldo did leave.
"I think that Cristiano [will] stay at Real Madrid and Antoine Griezmann [will] stay at Atletico," he told radio station Onda Cero.
"The departure of Cristiano Ronaldo, out of 10, worries me a five or a four. It would not be so dramatic for La Liga. We are increasingly independent of big players."
Ronaldo has scored 450 goals in 438 appearances since joining Madrid from Manchester United in 2009.