Ronaldo left Manchester United in November 2022 after terminating his contract, before joining Al Nassr the following January once the World Cup in Qatar had concluded. He has since scored 126 goals and provided 24 assists in 149 competitive appearances for the Saudi club.
According to Portuguese newspaper A Bola, Ronaldo is now part of a group preparing to buy Al Nassr outright from its current owner, Saudi Arabia's sovereign wealth fund.
The consortium includes AC Milan owner Gerry Cardinale, as well as businessmen Ibrahim Al-Muhaidib, Mohammed Al-Khuraiji and Sharaf Al-Hariri. Al Nassr is currently controlled by the Public Investment Fund, which holds around 75% of the club's shares. Ronaldo already owns a 5% stake in Al Nassr and would see his ownership significantly expanded should the takeover proceed.
All five members of the consortium are prepared to contribute close to €100 million each toward the purchase, according to the report. Cardinale's investment vehicle, RedBird Capital Partners, is expected to meet with PIF representatives within 48 hours to discuss the potential acquisition, in a meeting likely to determine whether the deal advances toward a formal offer or collapses entirely.
Should the takeover go ahead, it would place Ronaldo in the unusual position of being simultaneously Al Nassr's biggest star and one of its owners, while giving Cardinale a foothold in Saudi football to complement his ownership of Milan.
Ronaldo has increasingly diversified into club ownership and investment in recent years, having already acquired a 25% stake in Spanish second-tier side Almería earlier this year.
Reports in the Italian press have suggested the negotiations remain at a preliminary stage, with Cardinale's contacts described as difficult and Al Nassr just one of several clubs RedBird is evaluating as it looks to expand its network of football investments.
Ronaldo signed a contract extension with Al Nassr through 2027 earlier this year, tying his playing future to the Riyadh club regardless of how the ownership situation ultimately develops.