Chelsea would be fine, considering they are not happy with Lukaku, they could replace him with Ronaldo and they would be doing fine with him at striker position instead. In fact, Bayern would work out well too if they are planning on selling Lewandowski, in that case they could sell Lewandowski for like 50 million, which they have been trying to do for a while now, and get Ronaldo for 20-30 million, hell if I know Bayern and how cheap they are, they would get him for 15 million

All in all, Ronaldo is a great striker, even at his age he would bring a lot of talent to a lot of teams and would make them a much better team for sure.