The president of La Liga has claimed that Cristiano Ronaldo opted to leave Real Madrid this summer due to the recently implemented financial regulations in Italy.

Portugal international Ronaldo completed a groundbreaking transfer to Juventus earlier this summer, putting his nine-year spell in the Spanish capital to bed in favour of a chance to impress fans in the Serie A.

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However, Javier Tebas – the president of La Liga – believes that Ronaldo decided to move this summer because of a financial issue which could have seen his place at Real Madrid come under threat.

Ronaldo has gone for a fiscal issue,” Tebas told Mundo Deportivo. “In Italy, due to the new regulations, it will charge more net of the gross than in Spain. Real Madrid had a hard time competing with that and there will be more reasons, but that’s a very big one.

A few years ago I would have worried about losing so many stars at once, maybe a nine out of ten. Now, with the brand image we have, I worry about a 4 out of 10.”

Ronaldo has become the club’s record signing following his £105m arrival at Juventus, eclipsing the £81m that the Old Lady splashed out for Gonzalo Higuaín two years ago.

The 33-year-old has also become their seventh signing of the current transfer window, joining the likes of Emre Can, Douglas Costa and João Cancelo in Turin, which has taken Juve’s summer spending close to £200m.