According to Mendes, the offer arrived in the summer, just as Real Madrid and Ronaldo's agent were discussing a contract extension for the Portuguese star, which would come to fruition a couple of months later. The offer was duly rejected, as Mendes stated that Ronaldo wants to stay in Madrid as long as possible.

The reasons behind Mendes' decision to reveal the existence of this offer at this exact moment aren't clear. He might want to show that Ronaldo is still quite valued in world football; while his reputation as one of the biggest stars in football history is indisputable, fame demands constant reinforcement, and this is an excellent way to remind club management, fans and competitors that the player he represents is still highly coveted.

Mendes might also want to prove to the club that Ronaldo is committed for good with Real Madrid, or strengthen even further his god-like reputation among the club fans. However, Mendes' intentions are secondary. The main point is that some Chinese club can fork out that amount of money for one of the best football players in history without batting an eyelash.

At first it seemed that Chinese clubs could only buy players well past their prime at high prices. Progressively, the quality of the talent that has left for China has increased, while the high prices have gone even higher and salaries have reached unheard of limits. Some thought this fever would go away fast, similarly to what happened with Russian or Ukranian clubs a few seasons ago -- Hulk's signing from Porto FC by Zenit St Petersburg comes to mind, and not surprisingly, the player now plies his trade in Shanghai. But China's entry into world football is qualitatively different.

With plenty of money to spare, the CSL and clubs are investing heavily in football, with a long-term plan to make the competition appealing through good players and better coaches. This is no Zenit St Petersburg or Shakhtar Donetsk trying to steal a few players here and there. In the last few weeks, Chelsea's Oscar and Boca Juniors' Carlos Tevez have accepted deals of such size that put them into the top five worldwide in terms of salary, something that will surely make other top players think about their near future under a different light.

The CSL threat joins the outstanding TV contract signed by the Premier League, the financial benefits of which started to appear this season for English clubs. The Spanish Liga, and especially the top teams such as Real Madrid or Barcelona, see their progress in the last decade at stake with two formidable groups of rivals in terms of cash, determined to lure their best players out of Spain.

Real Madrid's first reaction has been fast and decisive. President Perez implemented a series of contract renovations that, at least on paper, should keep the spine of the current squad intact for the next two or three seasons. In parallel, the club's management has increased the pace of the marketing activity, renegotiating contracts with several partners and trying to increase the cash to maintain the pace in signings and salaries.

However, club sources already admit that Real Madrid will lose their privileged position at the top of the revenue ranking in world football next season. Despite their efforts, their presence in the growing Asian markets is still not strong enough. The brand of the Premier League and the investment of the local clubs -- not only in China -- are strong competitors for the share of wallet of the Far East football fans.

It sounds far fetched now, but Real Madrid need to prepare for a world in which a handful of clubs from several leagues could make more money than them, and can therefore attract better talent. Of course, winning titles always helps, but the physical presence in the fastest growing markets is also a must. A wise conciliation between the sportive side of things and the business one becomes mandatory if President Perez wants the club to be as dominating in the 2020s as it's been for most of its history.