The Premiership's outstanding player this season, Ronaldo has long been courted by Spanish giants Real Madrid and Barcelona.

Only this week, it was suggested Real would be prepared to pay a world-record fee in excess of £50million for the 22-year-old.

Sir Alex Ferguson has continually stated Ronaldo was going nowhere and the player himself has always claimed his preferred option was to remain at Old Trafford.

Now Ronaldo has agreed a five-year contract which will keep him at United until 2012.

And, with the club still chasing a repeat of their unprecedented 1999 treble, Ronaldo wants to make sure he ends the season with some medals.

"I am delighted," he said. "I spoke with Sir Alex about my future and everybody knew that I wanted to stay.

"I am very happy at the club and I want to win trophies and hopefully we will do that this season."

The former Sporting Lisbon star scored his first Champions League goals in the midweek rout of AS Roma, collecting another man-of-the-match award in the process.

He will be a major threat at Villa Park tomorrow as United look to beat Watford and book an FA Cup final appearance against either Chelsea or Blackburn at the new Wembley.

"It is fantastic news," said Ferguson.

"It emphasises the point that Cristiano is happy here and that he is at the right club.

"He has a great relationship with the team, staff and the fans and he will go on to be one of Manchester United's great players."

As a winger of world-class proportions himself, Ryan Giggs has nothing but admiration for the way Ronaldo has performed this season.

And the Welshman has no hesitation in backing those who claim the Portugal winger is the best player on the planet at present.

"I don't believe there is anyone who could rival him as being the best player in the world," he said.

"For someone in his position, and of his age, to be as consistent as he has been, is remarkable.

"His performance have been brilliant.

"To secure his future for the next five years is great news for everyone."