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This is a big opportunity for Cristiano Ronaldo and this opportunity has made him the president of FIFA. Ronaldo can play for any club in the Club World Cup, so he will naturally want to choose a club that has good quality star players and a club for which he can do well. Now many may be saying that Cristiano Ronaldo can choose Real Madrid as his team to play in the Club World Cup, but Ronaldo will get the club of his choice, but this is not the case. Now if Cristiano Ronaldo likes Real Madrid and if Real Madrid thinks that they will participate in the Club World Cup with their current team, then Cristiano Ronaldo will not be able to play for Real Madrid. So Ronaldo will have to discuss with multiple European clubs and after discussing, Ronaldo can participate in the Club World Cup for the club that expresses interest in taking him.
Ronaldo can play at any club, but Ronaldo will not join just any club. Only a few clubs are willing to pay his high salary at his age, the rest will not be able to come close to him. I also don't think Ronaldo will easily return to Europe and get a place at the club he wants, but you never know what deals will happen in this sports industry.
Signing Ronaldo at the age of 40 is a business deal that some rich clubs can still consider. Many people are interested and fans of Ronaldo so the club's business will certainly make a lot of money. Instead of signing him to win titles, I think any club that would sign him would just be thinking about how to make money from him.