Cristiano Ronaldo agrees new Real Madrid contract

Cristiano Ronaldo has signed a three-year contract extension at Real Madrid reportedly worth £14.2m a year.

Talks between the Portuguese forward and Los Blancos have been ongoing for some time, and the Spanish giants have now confirmed that the 28-year-old has finally put pen to paper.

Ronaldo's new contract reportedly makes the former Manchester United winger, who scored in Madrid's 2-2 draw with Villarreal in La Liga yesterday during which world-record signing Gareth Bale made his debut, the highest paid footballer on the planet.

It will keep Ronaldo at the Santiago Bernabeu until 2018 and will quell rumours of his potential return to Manchester United next summer.