"Manchester United have received a world-record, unconditional offer of £80million for Cristiano Ronaldo from Real Madrid," an official United statement read.
"United have agreed to give Real Madrid permission to talk to the player."
United have been persistent to keep Ronaldo away from the Bernabeu throughout the past couple of seasons, but it seems that the fresh bid was too good to reject.
Moreover, the Premiership champions said that the Portuguese's wish played a role after he 'has again expressed his desire to leave'.
The Red Devils concluded that matters will be finalized on June 30th.
Ronaldo could be Real's second mega deal this summer, following the £59million capture of Kaka from AC Milan.
The quality signings are part of the 'project' carried by new chairman Florentino Perez, who promised to bring in some big names for next season.