كتب : Omar AbdelAziz
The Portuguese winger still has three years remaining in his contract, which is due to expire in 2010, but he opened talks for a new deal that should keep for two further years until 2012.
"I think he came out and said discussions are ongoing so we're not going to put a timeline against them," Gill told BBC Radio Four.
Gill reflected the club's cordial reception to the player's extension request, stressing that he will not be leaving Old Trafford in the summer.
Ronaldo has been subject to rumors linking him with a move to either Barcelona or Real Madrid.
"The player wants to stay, we want him to stay and I'm sure we'll reach a satisfactory conclusion."
"Every United fan can be reassured he won't be leaving this summer.
"It would be realistic to extend it by a further two years to 2012 - the same time that Wayne Rooney has signed for," added Gill.
Ronaldo has been the highlight of United's splendid season, topping the club's scoring charts in the Premiership and labeled by many as the best player in the world.