Cristiano Ronaldo Transfer to Real Madrid Complete on Wednesday

Cristiano Ronaldo's transfer from Manchester United to Real Madrid is complete, according to reports on Wednesday.

The transfer fee of $132 million (£80 million) for Ronaldo's rights was agreed to between the clubs last month and United reported on its Web site on Wednesday that the fee has been paid.

Man U manager Sir Alex Ferguson paid tribute to the Portugal winger.

"Cristiano has been a marvelous player for Manchester United. His six years at Old Trafford have seen him develop into the best footballer in the world," Ferguson said. "His contribution has been a major factor in the club's success in that time and his talent, his ability to entertain and his infectious personality have enthralled fans the world over."

"Everyone here wishes him well in his future career," Ferguson said.

According to the Real Madrid website, Ronaldo will “be tied to Real Madrid for the next six seasons. He will be presented on July 6 at the Santiago Bernabeu."

This summer was a blockbuster one for Real Madrid president Florentino Perez. Just one day before negotiating the deal for Ronaldo, Perez bought the rights of Brazilian star Kaka for $92.4 million (£56 million), which was the record-high transfer fee for Real. Perez then signed Raul Albiol was signed from Valencia for $19.8 million (£12m), to bring Real's total summer spend, so far, to $244 million (£148m).

Ronaldo will reportedly earn about $18 million (£11m) per year, which will make him the highest paid footballer in the world. He made approximately $10.5 million (£6.38m) at Old Trafford.

Currently, top earner in the world is understood to be Inter Milan striker Zlatan Ibrahimovic, who makes about $16.5 million (£10m) per year.

While with Manchester United, Ronaldo helped lead the soccer club to three consecutive Premier League titles and an UEFA Champions League title.

In 2007-08, he scored 42 goals, which topped the previous club record for a midfielder held by George Best, and scored as United defeated Chelsea in the Champions League final.

Due to his sensational year, Ronaldo was named Fifa World Player of the Year in January, only a month after he won the Ballon d'Or as the European Player of the Year.

Ronaldo was the top scorer for his club last season, with 26 goals, taking his total for United to 118 in 292 appearances.

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