Cristiano Ronaldo is on the brink of renewing his contract with Real Madrid. His current contract runs until 2015 and the deal on the table would see this extended until 2018, according to Spanish TV station 'La Sexta'.

Even though the Portuguese newspaper 'A Bola' ran a story this past Tuesday that Real Madrid's star player was not planning to renew his contract, which would allow him to move on to another European club for free in 2015, 'La Sexta' sees the situation quite differently, and claims that his contract renewal is basically a done deal.

Over and above a salary increase, Cristiano Ronaldo's contract would also include bonuses tied to certain achievements such as scoring goals, winning titles and winning the Ballon d'Or.

The 'Futboleros' program added that negotiations are at an advanced stage and that the main point of conflict is the distribution of income for image rights.

Another program, 'El Partido de las 12', on 'Cadena Cope' reported that a huge offer had come in from France, for four seasons and €17 million after tax per season. The show also claimed that Real Madrid would be willing to improve his package for the two years he has remaining as well as extending his contract for a further three seasons.