The 37-year-old Portuguese superstar’s decision is driven by his desire to play in the Champions League for the remainder of his career.
Ronaldo has been part of 19 consecutive Champions League seasons since leaving Sporting Lisbon for English football in the summer of 2003.
The forward has made 183 appearances in Europe’s elite competition, notching 140 goals and adding a further 42 assists in that time.
He has never played in the Europa League, in which the Red Devils will feature this season after enduring a miserable season, which saw them finish sixth in the Premier League.
The Portugal international believes he has ‘three or four years’ left at the highest level of the game, according to The Times.
The reports suggested that Ronaldo would like to spend that time at a club where he is capable of adding to his team and individual achievements.
Bundesliga champions Bayern Munich and Premier League rivals Chelsea have already expressed an interest in signing the experienced forward.
Ronaldo, however, remains in contract with United until the summer of 2023 with an option for a further year.