Ronaldo, who has been without a club since November after agreeing to have his Manchester United contract torn up, is scheduled to go to Saudi Arabia in the coming days with Al-Nassr hoping to unveil their star signing on January 1.
The contract offer is reported by CBS to be around $75 million (£62 million) a year and along with the medical examinations having been scheduled, the accommodation has already been booked for Ronaldo and his entourage.
The offer, therefore, would be over one million dollars per week, a figure that would be further increased by the image rights in the Saudi kingdom.
Ronaldo could also become a leading figure for Saudi Arabia's bid to host the 2030 World Cup - a bid that already has Lionel Messi as an ambassador for the kingdom.