Ittihad chairman Mansour Al-Balwi has offered 20 million Euros for Real Madrid to sell the contract of Ronaldo, whose annual salary hasn't been revealed yet, the sports daily said.

According to the prominent Madrid newspaper, Real are considering the offer especially as manager Fabio Capello is believed to be keen on axing the two-time World Cup winner as a part of major shake-up to the team.

The Saudi Arabia giants have announced signing Portugal's superstar Luis Figo from Inter Milan starting from July 2007 for an annual salary of 4.5 million Euros.

If the deal was sealed, this would mean reuniting Ronaldo and Figo for the third time after they teamed up in Barcelona in the 1990s before playing together for Real Madrid in the new millennium.

Ittihad are not the only admirers of the 31-year-old forward as his former club Inter Milan also expressed interest since last summer.

AS said that Inter Milan offered Real 15 million Euros to seal the deal in January before Ittihad launched their mega bid.

Real Madrid, Ittihad Jeddah and Ronaldo didn't comment on the report.