Valdano arranged a news conference in which he stressed that Madrid were not actively pursuing Ronaldo's signature.

Valdano said that he was informed of Ronaldo's interest in leaving Inter by the player's agent Alexandre Martins.

"The agent asked us if Real Madrid could be interested and what we want to make clear is that we would make no move unless Inter decided they wanted to sell," said Valdano.

"At the moment Inter Milan are not prepared to sell and Real Madrid are not prepared to buy."

Madrid and Inter have a pact of "non-aggression" and the Spanish club will not make a move unless the player indicates his desire to leave.

However, the Spanish giants are reported to have already negotiated a �15m deal with an insurance company in case the Brazilian joins them.

AS newspaper revealed Real would pay �2.25m a year to insure Ronaldo.

The report said the club already pays �1.7m per year each for Luis Figo and Zinedine Zidane.

Sir Alex Ferguson laughed off rumours Ronaldo could be heading to Manchester United.

Ferguson was quizzed about talk in Italy that Ronaldo was about to leave Inter and that United could be one of the clubs bidding for his services.

"We're about to buy him," questioned Ferguson with a smile. "How much for?" suggesting there was little substance to the speculation.

Jealous coach

Meanwhile, Ronaldo has responded to comments by World Cup-winning coach Luiz Felipe Scolari that he is spoilt.

"I think he's wrong," he said. "My son is spoilt but his father is not.

"I still think it's more difficult for people to handle victories than to handle defeats."

Brazil legend Pele also reacted to Scolari's comments that he knew nothing about football and that people should ignore his opinions on the game.

"I don't understand his position," Pele was quoted as saying by several Brazilian newspapers.

"I've always given my opinions, the Brazilian people have known me since I was 16. I helped Brazil win three World Cups.

"I don't known what's happened with Felipe. As the media just talk about Ronaldo, Roberto Carlos and Rivaldo as heroes, he must be jealous."