Ronaldo's return boosts Real's attack after a disappointing 1-1 draw at home to Levante on Saturday, their second successive home draw which left them trailing early Liga leaders Barcelona and Real Sociedad by four points.
Dermot Corrigan is a Madrid-based football writer who covers La Liga and the Spain national team for ESPN FC.
Radio Statio Cadena Cope said that the Catalans and another unnamed club were prepared to pay €150m to secure his services - with the former making an enquiry to sound out whether the player would be willing to make the shock move to the Nou Camp.
"We all know how good Cristiano is and I prefer him to be with us all the time".
"Real Mallorca signed me when I was a nine-year-old, but it was my parents who decided but every boy has dreams".
Pressed on whether one of the clubs were Barcelona, he only responded: "These things are dealt with by [my agent] Horacio [Gaggioli]".
"It was destiny. The move to Barça didn't go ahead and I joined Real Madrid".
'The end is the destination, not Barca, and I was delighted to be at Real Madrid and to defend this shirt'. Madrid may have to be patient in order to break them down, although with Ronaldo no doubt keen to show what they have been missing without him, they should get their campaign for a third successive Champions League off to a smooth start. He came to us when he was very young.
"I would have liked Morata to stay, but he wanted to play more and to leave". I guess what my [release] clause says.