Real Madrid said on Thursday that they were confident the Portuguese forward had acted legally.
Citing a source close to the player, the BBC also reported that the Real Madrid forward is "sad" and "upset" after being accused of tax fraud and wants to leave the club.
It is believed that Ronaldo was very disappointed with the allegations against him.
Ronaldo has reacted badly to the news and several newspapers in Spain and Portugal say he has "made the irreversible decision to leave Madrid after eight successful years at the club", reports ESPN.
The Portuguese superstar is said to be angry over claims by authorities that he defrauded the Spanish authorities of €14.7million, which he refutes.
And Madrid-based publication Marca claim that the 32-year-old will do just that after revealing his plans to his worldwide contemporaries.
Gianforte pleads guilty to assault in incident with reporter
Audio taken by Jacobs recorded sounds of a scuffle, followed by Gianforte yelling for the reporter to "get the hell out of here". Gianforte had paid Jacobs $4,464.97 in restitution as part of the criminal charge, according to the paper.
Madrid have expressed "full confidence" in Ronaldo and believe he will be proven innocent of any wrongdoing, but nonetheless the Portugal worldwide is claimed to have made an "irreversible decision" to leave Santiago Bernabeu.
"Real Madrid C.F. are absolutely convinced that our player, Cristiano Ronaldo, will prove his total innocence in this process". In short, Ronaldo does not just want to leave Madrid specifically, he wants to leave Spain!
The Portugal worldwide, who is 32, then published a post in Instagram with an accompanying caption that said sometimes the best answer is to be quiet.
"Earlier this week Ronaldo's agency Gestifute released a statement which said: "'There is no tax evasion scheme. A loyal player who truly respects his former clubs, it would be near impossible for him to join another Premier League club that isn't United.
Ronaldo, who also won the Champions League with Manchester United in 2008, has scored a record 105 goals in the competition, 11 more than FC Barcelona's Lionel Messi, his nearest challenger.
Richard Keys has told Manchester United fans to forget about re-signing Cristiano Ronaldo. After winning the Champions League in May 2016, Ronaldo led Portugal to success in the Euro 2016.
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