Reports in Spain claim the Portuguese is still considering his future and could opt to exit the Bernabeu.
But Real Madrid bigwig Florentino Perez will now let Ronaldo leave easily.
Spanish outlet Don Balon, known for their outlandish and bold transfer claims, say Los Blancos will demand Lukaku in a blockbuster swap deal.
That’s after Real missed out on their priority target Harry Kane as he signed a new contract at Tottenham.
And the same thing happened earlier this week as Liverpool tied down Mohamed Salah for five more years.