Ronaldo re-signs with Real Madrid, becomes highest paid soccer player in the world

Christiano Ronaldo signs autographs June 5, 2012. (REUTERS/Bartosz Jankowski)

Christiano Ronaldo signs autographs June 5, 2012. (REUTERS/Bartosz Jankowski)

The Sports Xchange

, Last Updated: 1:15 PM ET

Cristiano Ronaldo signed a contract extension with Real Madrid that will pay him $23 million per year, according to The Independent.

The new contract makes Ronaldo the highest-paid soccer player in the world.

Ronaldo's deal was set to end after next season, but he will remain with Madrid for five more years.

After Madrid signed former Tottenham attacker Gareth Bale to a record six-year, $132 million deal, Ronaldo was able to renegotiate his contract.

Bale and Ronaldo scored in Real Madrid's 2-2 draw with Villareal on Saturday.


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