Sources have told ESPN that Cristiano Ronaldo is standing firm and continuing his match boycott, after failing to secure concrete guarantees from Saudi Arabia's Public Investment Fund (PIF) over management changes at Al Nassr.
The sources further disclosed to ESPN that Ronaldo will demand to leave the club in June if no assurances of reform are forthcoming in the coming weeks.
The Portuguese forward refused to play for Al Nassr in their 1-0 league victory over Al-Riyadh SC on Monday in protest, according to the sources. He believes the PIF has not allocated sufficient resources to Al Nassr and is instead propping up rivals Al Hilal, giving them a competitive edge.
Sources told ESPN that Ronaldo tried to block Karim Benzema's transfer from Al-Ittihad to Al Hilal earlier this week, deeming the move unfair and claiming the PIF is paving the way for Al Hilal to win the title.
Ronaldo has trained with the squad all week and posted a photo of himself in the club's training gear on his personal social media on Wednesday. However, only manager Jorge Jesus and his teammates featured in the training footage shared on Al Nassr's official account the same day.
Privately, he has made it clear that his return to action hinges on a swift restoration of Al Nassr's management authority, as well as guarantees that the interference witnessed in the just-closed transfer window will not recur mid-year.
In recent months, Al Nassr's sporting director Simão Coutinho and chief executive José Semedo — both Portuguese nationals — have been suspended by the PIF. The decision has infuriated Ronaldo and hampered the club's efforts to sign top reinforcements under fellow Portuguese manager Jorge Jesus.
The club's overall spending has also been drastically cut.
Meanwhile, Al Hilal has received massive financial backing from Saudi Prince Al-Waleed bin Talal Al Saud, a billionaire businessman and one of the club's patrons, helping to strengthen its squad.
Sources told ESPN that all of Al Hilal's signings in the transfer window, including Benzema, were funded by Prince Al-Waleed. His group owns a 25% stake in the club, with the remaining 75% held by the PIF.
Ronaldo, who has yet to win a major trophy with Al Nassr since joining in 2022, is said to be furious. While he has received multiple offers to leave, primarily from Europe and the United States, he is unwilling to depart at this stage, as it could disrupt his preparations for the FIFA World Cup.
Ronaldo renewed his contract with Al Nassr last summer, a deal running until June 2027 with a €50 million release clause.
Sources revealed that Al Nassr and the PIF have promised Ronaldo a major investment spree this summer, with Manchester United's Portuguese international Bruno Fernandes among the potential high-profile targets, alongside several other star players.
For his part, Estêvão Calçada, chief executive of Al Hilal, said he does not understand the frustration expressed by Al Nassr and Ronaldo.
Asked about Ronaldo's grievances in an interview with Cadena SER, Calçada said: "You'd have to ask them that. We're only focused on ourselves. After all, it's not like they had a poor summer transfer window — João Félix and Kingsley Coman both joined them."
"The passion and competition in this country are beyond anything I ever imagined. I thought I'd seen it all, and people have gone crazy over this signing [Benzema]."
"We were looking for a striker, and a unique opportunity came up. A Ballon d'Or winner with extraordinary talent — the stats speak for themselves. More importantly, he didn't need to adapt to our league. Everything fell into place, making this transfer possible. We're absolutely thrilled."
"I'm not at all surprised Benzema chose us. At the end of the day, Al Hilal is not only Saudi Arabia's most popular and powerful club, but also one of the most influential across Asia."
"We're ready to compete for every trophy, and we're in a very strong position this season."
Calçada added that Benzema's impact extends beyond the pitch.
"We're already seeing results commercially and in terms of media content," he said.
"Although this was a purely sporting signing, we've already started working to maximise the return on this investment."