Manchester United have accepted a world record £80 million bid from Real Madrid for Cristiano Ronaldo.
After warding off the Spanish club's interest in the Portuguese World Player of the Year this time last year, United said in a statement on Thursday that talks could begin over a possible transfer to the nine-times European champions.
"Manchester United have received a world-record, unconditional offer of 80 million pounds for Cristiano Ronaldo from Real Madrid," the club said.
"Manchester United have received a world-record, unconditional offer of 80 million pounds for Cristiano Ronaldo from Real Madrid," the club said.
"At Cristiano's request - who has again expressed his desire to leave - and after discussion with the player's representatives, United have agreed to give Real Madrid permission to talk to the player.
"Matters are expected to be concluded by June 30."
Real Madrid confirmed they had made an offer for Ronaldo.
"The club expects to reach an agreement with the player in coming days," Real said in a statement.
Should Real complete the signing of the 24-year-old it would seal a remarkable double after the Spanish giants snapped up Brazilian playmaker Kaka from Milan this week for a fee reported to be around £58m.
Kaka was the first player to be signed since Florentino Perez returned to the presidency this month and Real Madrid appear intent on continuing their summer spending spree with the purchase of Ronaldo.
United have always rejected the advances of Real for their most prized asset, even threatening to report them to FIFA last year over their pursuit of the player.
However, they now seemed resigned to losing Ronaldo, who has always said it would be his dream to play for Real, albeit for a staggering sum of money.
Ronaldo joined United from Sporting Lisbon in 2003 as an 18-year-old in the wake of David Beckham's move to Real Madrid and quickly established himself as arguably the most high-profile player in the Premier League.
His goals have helped United win three consecutive Premier League titles as well as the Champions League last year when he scored in the final against Chelsea.
In the 2007-08 season he scored 42 goals which topped the previous club record for a midfielder held by George Best. Last season he managed 26 goals, taking his tally for United to 118 in 292 appearances.
In January he beat Barcelona's Lionel Messi and Liverpool striker Fernando Torres to win FIFA's World Player of the Year award, the first player from an English club to win it.
United must now concentrate on replacing Ronaldo. Moves for one or more of Bayern Munich winger Franck Ribery, Wigan's Antonio Valencia and Lyon forward Karim Benzema would go some way to filling the void.
Real's cash could allow Ferguson to keep Carlos Tevez, who had appeared close to leaving after United refused to meet the £32m price tag set by his economic rights holders, although the two parties remain apart on the Argentine's wage demands.
Manchester United have accepted a world record £80 million bid from Real Madrid for Cristiano Ronaldo.
After warding off the Spanish club's interest in the Portuguese World Player of the Year this time last year, United said in a statement on Thursday that talks could begin over a possible transfer to the nine-times European champions.
"Manchester United have received a world-record, unconditional offer of 80 million pounds for Cristiano Ronaldo from Real Madrid," the club said.
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