American Kathryn Mayorga has accused Juventus forward Ronaldo of sexually assaulting her in a hotel room in Las Vegas in 2009, something the Portuguese has strenuously refuted since the story came to light.
"Based upon a review of the information presented at this time, the allegations of sexual assault against Cristiano Ronaldo can not be proven beyond a reasonable doubt", the Clark County District Attorney's office said in a statement.
Ronaldo vehemently denied the allegations, with Juventus coming under fire for their decision to stand by him while investigations were ongoing, but it can now be put to bed with the Clark County district attorney releasing a statement on their decision not to prosecute on the basis of insufficient evidence.
However, prosecutors said on Monday they could not substantiate Mayorga's claims, and therefore "no charges will be forthcoming." .
The lawsuit seeks to void the agreement and collect at least 200,000 dollars (£160,000) more from Ronaldo.
Ronaldo's layer Peter Christiansen has said Ronaldo and Mayorga - a former model and school teacher - had consensual sex in 2009.
In September a year ago, Mayorga filed a lawsuit in Las Vegas trying to overturn a £288,000 non-disclosure agreement in 2010 which she argued was signed under duress.
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The Associated Press generally does not name people who say they are victims of sexual assault, but Mayorga gave consent through her lawyers to make her name public.
Police said the initial investigation was closed in 2009 because Mayorga only identified her attacker as a European soccer player, not by name, and did not say where she claims the rape took place.
Since the woman did not give any more information a meaningful investigation wasn't conducted.
Video evidence, showing interactions between the victim and perpetrator before and after the alleged crime, was lost.
The investigation was reopened previous year at the request of her lawyers.
Police did not immediately respond Monday to messages about the case.
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