For professional players like Ronaldo, money is not everything but rather a career that is more important for star players. It was all done because Ronaldo was just waiting for when he would retire at a late time when his career was still shining. So logically it would not be possible even if given a big offer but Ronaldo is a star player who can always be his reputation to remain known as a player who is very appreciative.
I think both are important for an old player like Ronaldo. 
Ronaldo's career is almost over, I'm sure he won't stay playing football until age 45. So, money is important for him now.
However, Ronaldo must expect to be in a team that he can always be a main player. Ronaldo isn't a typical player who wants to sit on the bench. Although career isn't very important anymore, Ronaldo should expect to keep playing in Portugal national team until the end of his career. It requires regular position on the team.