Cristiano Ronaldo has agreed to an incredible $381 million deal for life to stay at Real Madrid.

The former Manchester United superstar will sign a new five-year contract worth an amazing $76m a season, The Sun reports.

It means the star striker could cover pay the wages of every player in the AFL (around $200m) and the NRL (around $110m) for a season and still have more than $50m left over.

Ronaldo, 31, will still have a prohibitive $1.5 billion get-out clause in his contract if another team wanted to buy him.

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His net new salary is estimated at $710,000 - the highest in the game's history.

He will once again become the highest-paid Real player. Ronaldo's new deal comes in the wake of Gareth Bale's new six-year contract which is worth $580,000 a week after tax.

Ronaldo will be 36 by the time the new contract runs out in 2021, meaning he is likely to see out his career at the Bernabeu.

Lionel Messi's estimated $650,000 a week net deal at Barcelona was the highest in the game until now. Barca president Josep Maria Bartomeu revealed last week talks over a new deal for Messi will begin before the end of the year.

In the seven seasons since his then world record $130m move from Old Trafford, Ronaldo's become the highest goalscorer in the history of Real Madrid leaving legends Raul and Alfredo Di Stefano in his wake.

He's also the record goalscorer in Champions League history - a competition he won in 2016 as well as Euro 2016 with Portugal.