Madrid have long been admirers of the Portugal international, with Spanish media regularly linking the club with a big-money swoop for the 23-year-old winger.

However, Queiroz, who spent a year in charge at the Bernabeu before returning to his former position as Sir Alex Ferguson's right-hand man at United in 2004, insists even a world-record transfer fee would not tempt the reigning Barclays Premier League champions into selling their biggest star.

"We would not sell him for 120million euros," Queiroz was reported as saying in Spanish newspaper Marca.

"You can offer all the money in the world, but there is no amount that can buy him."

Despite the comments from Queiroz, Madrid still have their hopes pinned on landing Ronaldo.

Spanish daily Marca quoted the Spanish club's sporting director, Predrag Mijatovic, as saying they have highlighted the Portugal star as the man to lead the nine-times European champions into a new era.

He said: "Real Madrid is one of the most prestigious teams in world football and for that reason we should have the best players in the world.

"Our members were lucky enough to see Zinedine Zidane in the white shirt and we miss that period when we were winning the Champions League.

"For that reason, we want Cristiano Ronaldo to be the face of the new Real Madrid."