Cristiano Ronaldo has joined Saudi Arabian club Al Nassr, according to the club.
After weeks of speculation, the Saudi Arabian club officially unveiled the five-time Ballon d’Or winner on Friday night.
The agreement was supposed to be announced on New Year’s Eve, but it was announced early due to social media speculation.
After leaving Manchester United last month, Ronaldo became a free agent.
His contract was mutually terminated following an explosive interview with Piers Morgan in which he criticized the club’s owners, the Glazers, and manager Erik ten Hag, among others.
He lost his £26 million per year salary as a result, but he now earns much more.
According to Saudi state-owned broadcaster Al Ekhbariya, Al-Nassr will pay Ronaldo a whopping £172 million per year.
This figure is supported by transfer guru Fabrizio Romano, who claims the footballer’s annual salary is close to €200 million (£177 million) – the equivalent of £3.3 million per week.
According to CBS Sports, Ronaldo’s salary for playing for Al-Nassr will be $75 million (£62 million).
The remainder will be covered by image rights and commercial deals, with the Real Madrid legend expected to be involved in the country’s bid to host the 2030 World Cup.