Spanish media reports said the move could cost Juventus 105 million euros ($120 million), with Ronaldo signing a four-year contract worth 30 million euros per season. The 33-year-old is expected to have a medical in Turin next week before being unveiled by his new side.
“Today Real Madrid want to give thanks to a player who has demonstrated he is the best in the world and who marked one of the most brilliant periods in the history of our club and world football,” Real Madrid said in a statement.
In a letter posted on the Real website, the five-time Ballon d’Or winner said his time in the Spanish capital, during which he became their record goalscorer, had been one of the happiest in his life.
“I only have feelings of huge thanks for this club, for the fans and for this city,” he said.
“But I think the time has come to open a new stage in my life and that’s why I asked the club to accept to transfer me.
“I ask everyone, and especially our supporters, to please understand me.”
Juventus begin their pre-season schedule with a friendly against Bayern Munich on July 25 in Philadelphia, while Ronaldo could make his competitive debut for the club the following month, with Serie A to announce its fixtures for the upcoming season on July 20.
Ronaldo, whose World Cup campaign with Portugal was ended in the last 16 by Uruguay just under two weeks ago, hinted after May’s Champions League final victory over Liverpool that he was considering leaving the Santiago Bernabeu.
“It was very nice to be in Madrid,” he said at the time, using the past tense.
He later played down the comment, but doubts over his future at Madrid lingered, especially after he had also threatened to leave the previous year.
Despite failing to score in the 3-1 win in Kiev which sealed Real’s third successive European Cup, Ronaldo finished as the Champions League leading scorer for the sixth consecutive time with 15 goals.
Juventus focused on European glory
Now Juventus will be hoping that he can maintain his ruthlessness in front of goal for a few more years and finally help them end an agonising wait to become European champions for the first time since 1996, despite a prolonged period of domestic success.
Massimiliano Allegri’s side claimed a seventh straight Serie A title last season by holding off an inspired Napoli, but fell to Real in Europe after a dramatic quarter-final, when Ronaldo ended a thrilling fightback by the Old Lady with a controversial last-gasp penalty.
Ronaldo also scored twice in the 2016 final as Real downed Juve 4-1 in Cardiff.
It will be the biggest fee ever paid for a player aged over 30, but the Italians are gambling on the hope that Ronaldo can produce similar longevity to their former goalkeeper Gianliugi Buffon, 40, who left for Paris Saint-Germain last week.
But they are not the only ones with faith in one of the best players of all time, with Juventus’ shares on the stock exchange spiking by almost 40 percent since rumours of Ronaldo’s arrival first surfaced on June 28, and by 5.7 percent yesterday alone.
Ronaldo won two La Liga titles and four Champions League crowns with Real after joining from Manchester United in 2009 for a then world-record fee of £80 million ($94 million).
The winger was converted into an out-and-out striker, scoring an incredible 451 goals for Los Blancos in just 438 matches, smashing the club’s previous scoring record of 323 held by Raul.
“They have been nine unique years,” added Ronaldo.
“It has been an exciting time for me, full of respect but also hard because Real Madrid have high expectations, but I know very well that I will never forget that I have enjoyed football here in a unique way.”
Serie A will be the third of Europe’s four biggest leagues that Ronaldo has graced, and his move shows that none of his drive and ambition have decreased in the latter stages of his career.
He will also be hoping to take the lead later this year in his personal race with Barcelona forward Lionel Messi for most Ballon d’Or awards, although fans will now have fewer on-field battles between the two to enjoy.
Ronaldo to Juve is quick fix for Serie A but issues remain
Cristiano Ronaldo’s move to Juventus yesterday is a much-needed short-term boost for Serie A which has struggled to attract top players in the last decade, but the Italian league’s many deep-rooted problems remain.
Five-times world player of the year Ronaldo is the second big name to be lured to Italy since the close season following Napoli’s coup in hiring Carlo Ancelotti, one of Europe’s top coaches, and there have been other signs of a Serie A revival.
Last season’s title race was one of the most exciting in years with Napoli pushing Juve all the way before the Turin side wrapped up their seventh successive championship.
In fact, it was the only one of Europe’s big five leagues which did not turn into a one-horse race.
Serie A was also one of the big winners in the recent reform of the Champions League with its number of guaranteed slots in the lucrative group stage increasing from two to four.
It has also shown itself to be open to innovation as one of the leagues which agreed to experiment with video replay technology (VAR) last season.
But for every two steps forward, Serie A seems to take one step back.
It remains unable to attract the same
television money as its English and Spanish counterparts and last month was forced to start a new bidding round for
the rights to broadcast matches from 2018-21 after a last-ditch attempt by Spain’s Mediapro to salvage a previous deal failed.
Serie A had accepted the offer by Mediapro, a Chinese-owned group, in February for the rights to screen almost 400 games over the next three seasons at just above 1.05 billion euros ($1.23 billion).
But it then annulled the contract signed with Mediapro after the Spanish group failed to present the necessary bank guarantees.
Also last month, AC Milan were barred next season’s Europa League because of the club’s uncertain finances.
After months of speculation over the state of its finances, prospective bidders are circling AC Milan aware its owner, Li Yonghong, is in a tight corner.
In another setback, the government last week approved a ban on advertising by betting companies, something which Serie A met with “extreme worry”.
Serie A said the new rules would create disparity with other European countries and would bring “competitive disadvantages to Italian clubs”.
More long-standing problems also remain.
Only four Serie A clubs are owners of their own stadiums and although the number is slowly growing, it has a long, slow, bureaucratic process.
The gap between the top clubs and the rest remains huge, especially the teams from Serie B who often go straight back down – as Benevento and Hellas did last season – and Ronaldo might have a shock at the conditions in some of the smaller stadiums.
Ronaldo’s signing could even represent a problem – adding the world’s top player to a team who have won the last seven titles is hardly likely to improve the league’s competitive balance.