The Spanish club's president Florentino Perez has told the Ligue 1 champions they will have to obliterate the transfer record to land the Portugal attacker.
Real Madrid have warned Paris Saint-Germain they would have to cough up €1 billion if they wanted to sign Cristiano Ronaldo.
The Ligue 1 champions have long been linked with a move for the Portugal international, who has won the Ballon d'Or for the past two years, and there has been speculation that they could make a move for the forward next summer.
However, Madrid president Florentino Perez says that that the French outfit, who are owned by Qatar Sports Investments, have no chance of signing the forward - unless they are willing to obliterate the transfer record.
"If PSG want Ronaldo, it's easy: they have to pay the release clause: €1 billion," the Blancos supremo told Cadena COPE.
"No-one is a prophet in football but we don't want to sell him in 2016. There are still three years left on his contract."
Meanwhile, Perez also had his say on the controversy surrounding Barcelona defender Gerard Pique, who was booed by some Spain fans during last weekend's Euro 2016 qualifier win over Slovakia in Oviedo.
Blancos defender Sergio Perez suggested that his international team-mate hasn't "helped" himself with his recent behaviour, with Pique, who supports Catalan independence, accused of expressing anti-Madrid sentiments, but Perez has a lot of sympathy for the centre-half.
"Sometimes you make a mistake but it does not seem right that someone gets booed in the stadium and certainly not one wearing a Spain shirt," he added. "I feel bad for him."
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