According to Spanish TV station, El Chiringuito, Ronaldo has rejected the terms and told Florentino Perez of his desire to depart.
Ronaldo signed a contract keeping him at Los Blancos until 2021 a year ago but their star man is said to be wanting a move away from the Estadio Santiago Bernabeu in the hope of finding a new challenge.
At the end of October, the Portuguese star had revealed in a video on social media the name of the child as well as the proposed due date of the baby, initially fixed at November 21.
The award, which will be handed to the winner on 7 December, has been shared between the two superstars since 2008, with Messi winning it five times, and Ronaldo claiming it on four occasions.
There have, however, been reports rubbishing the image as fake, and it is also believed that the magazine prepares three different covers for its Ballon d'Or edition.
'I'm very happy with the contract I have'. He recently became a father once again after he and his girlfriend Georgina Rodriguez gave birth to their daughter Alana Martina.
The Portugal international has undergone a dip in form in recent months, scoring just one La Liga goal so far this season.