Three Premier League clubs on red alert as Ronaldo’s release clause lowered dramatically

It wouldn't be summer without a Cristiano Ronaldo transfer saga.

Eventually, age will begin to catch up with Ronaldo. He can only evade the process for so long. And at that point, Real Madrid may look to sell him. But in order to make him affordable for other clubs, Madrid will have to drop his release clause significantly. According to OK Diario, the club have reached an agreement with Ronaldo what will see his release clause - an obligatory clause in Spanish football contracts - drop from €1bn to 'only' €120m. However, there is a stipulation. According to reports, this price drop does not apply to Barcelona or Paris Saint-Germain. The French champions have looked like the most likely destination for Ronaldo if he ever were to leave Madrid, but this may prevent him from going there. There are reportedly four offers on the table for Ronaldo to choose from, with Manchester City, Arsenal, Chelsea and AC Milan interested in signing the Portuguese superstar. It's hard to see him going to Milan, who have just been banned from the Europa League for not complying with FFP rules. The Premier League clubs, meanwhile, have money to burn and would jump at the chance to sign a player of such quality and stature.