if consider the purchase to be a Munich business and long-term investment. Of course, Ronaldo will not be on the Munich buy list. with old age, although the arrival of Ronaldo will make sales of jerseys and souvenirs from the club increase. but it will only last for the duration of the contract. I think Munich is thinking of a player asset that has more value in the long term.
Any team that buys Ronaldo today is only doing so for the sake of the club's earnings. He is an asset to the club and any club would be lucky to have him. A team like Munich doesn't need him for that; they need a player who will stay and help the team for a long period. Ronaldo is getting older, yet his physique is still impressive at his age. A smaller club, rather than a big one like Bayern Munich, will need him to boost their club earnings.