Ronaldo - a five time victor of the UEFA Champions League - will make undoubtedly make Juventus the outright favourites to win an elusive European title over the course of the next four years.
"Real Madrid would like to communicate that we have listened to the wish and request expressed by player Cristiano Ronaldo and have agreed to his transfer to Juventus FC", the Champions League holders said in a statement.
"Real Madrid has conquered my heart, and that of my family, and that is why more than ever I want to say thank you".
However, I believe that the time has come to open a new stage in my life and that is why I have asked the club to accept this transfer.
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Madrid's all-time top scorer with a remarkable 451 goals in just 438 appearances - the last of came in that UEFA Champions League final defeat of Liverpool in the Ukrainian capital - he leaves an incredible legacy in the Spanish capital.
Cristiano Ronaldo's move to the Serie A promises great excitement and drama, and will spur on other teams in the Serie A who will be desperate to catch up to Juventus and end their dominance in the league.
Real Madrid is the reigning Champions League victor, while Ronaldo is the reigning Ballon d'Or victor. Chelsea winger Eden Hazard-set to play for Belgium in the World Cup semifinals Tuesday-has been added to Real Madrid's list of potential replacements, AS reported Sunday.
The five-time Ballon d'Or victor has been Real for nine seasons after joining from Manchester United for a then world-record fee of £80m.
But they are not the only ones with faith in one of the best players of all time, with Juventus' shares on the stock exchange spiking by nearly 40 percent since rumours of Ronaldo's arrival first surfaced on June 28, and by 5.7 percent on Tuesday alone. I'm so sorry and ask you all, and especially our fans, please understand me.
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However, he was interrupted by Wright, who insisted: "We wasn't talking about the final, we were just having a laugh with ya". Wright, for his part, defend his right to get excited in ITV's coverage and took revenge by mocking Keane's accent.
Cristiano Ronaldo's time in Spain is over.
"Infinite thanks again to our fans and thanks also to the Spanish football".
But none of his arguments with Real Madrid affected his performances on the field in a negative way.
Juventus and Real Madrid will meet in an exhibition game August 4 at FedEx Field outside Washington, though it's unclear whether Ronaldo will be joining his new team on that trip.
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