Florentino Perez has revealed Real Madrid did not want to sell Cristiano Ronaldo but had to "open the door" for his departure after the player asked to leave.
Ronaldo stunned the footballing world in July when he completed a €100million transfer from the reigning European champions to Juventus, ending a trophy-laden spell in the Spanish capital.
The Portuguese forward won the Champions League four times and LaLiga twice, while he is also Los Blancos' all-time leading goal-scorer.
However, speaking ahead of the club's ordinary and extraordinary general meetings on Sunday, president Perez explained the reasons behind the transfer – and insisted Madrid got the best possible deal for the 33-year-old.
"The release clauses are not there to be paid. If there has to be sale, it is negotiated," he said.
"We did not want to sell him, but he wanted to go for personal reasons and we understood that, for all the good things he had done, we had to open the door for him.
"We got the highest value we could."
Focused for tomorrow pic.twitter.com/wv0fP3vW3s— Cristiano Ronaldo (@Cristiano) September 18, 2018
Perez is hoping to seal approval at the meetings to push forward with plans to loan money for the renovation of the Santiago Bernabeu, though the proposed changes will not see a major increase in the stadium's overall capacity.
"We have to make a decision on the work, by the end of the year, and on the financing issue," he added.
"The estimated time of the development is three and a half years, which will be compatible with the sporting calendar.
"The capacity will not increase, although there will be 800 new spaces for people with disabilities."
|Shai gives Windies hope with thrilling ODI run chase|
|Ten Hag unsure whether to risk Ajax stars against Bayern|
|Erasmus to work with Bulls as Springboks assist Super Rugby sides|
|Paul Gascoigne pleads not guilty to sexual assault|
|Joshua is ´begging´ for unification fight, claims Wilder|
|Silva, Fernandinho add to Guardiola´s injury woes|
|Hosszu storms to 14th gold, Seto smashes Le Clos´ world record|
|Raheem is an incredible human being - Guardiola rallies behind City star Sterling|
|Sexton pens IRFU extension until 2021|
|Ajax boss Ten Hag can do big things, says Bayern chief Rummenigge|
|He´s good at basketball – Kerr running out of superlatives for Curry|
|Green thrilled to make Warriors return in victory over Timberwolves|
|Madrid squad great and humble - Solari responds to Ronaldo|
|Langer unsure what to expect from Perth wicket|
|Fournette subjected to alleged racial abuse in Titans loss - Marrone|
|Better and better - Mbappe hails Neymar link|
|It´s the end of one of the best movies you could ever see - James pays tribute to retiring Wade|
|NASA invites Curry to see moon rocks|
|No plan B for LaLiga Miami game after Barcelona withdrawal|
|Messi´s English haul, Neymar eyes hat-trick record - Champions League in Opta numbers|
|LeBron trumps Wade in last dance, Curry scores 38 points|
|Seahawks secure dominant win over Vikings|
|Iniesta visits Messi and former club Barcelona|
|Drake makes plea for ball thrown into stands after Miami miracle|
|´Toughest pretty boy I´ve ever met´ - Langer dismisses Paine concerns|
|Van Dijk says Liverpool can challenge for double ahead of Napoli decider|
|Hazard: I´ve always loved Real Madrid|
|Yankees interested in Machado, not Harper - Cashman|
|Warriors´ Curry believes moon landing was faked|
|76ers star Butler suffers strained groin|
|Brady: Patriots still have a lot of football to play|
|´No one died´ - Belichick´s message to Patriots after stunning loss|
|Silva lauds Digne after stunning free-kick|
|Aduriz joins Messi, Ramos in LaLiga history books|
|We have a plan - Ravens coach Harbaugh prepared for Flacco return|
|´It´s difficult to accept´ - Gracia calls for introduction of VAR|
|LaLiga press on with overseas match plan despite Barcelona withdrawal|
|PSG open Coupe de France defence at fifth-tier Pontivy|
|Hazard backs Sterling as Neville reveals England star´s Euro 2016 concerns|
|Everton 2 Watford 2: Digne salvages draw with 96th-minute free-kick|
|Barcelona could ´steal´ Kane, says Pochettino|
|Oakland Raiders fire general manager McKenzie|
|Struggling Villarreal appoint Garcia Plaza as Calleja successor|
|Warriors assign Cousins to G League team|
|Barcelona pull out of plan to play LaLiga game in Miami|
|Pochettino to keep an eye on Inter when Spurs face Barcelona|
|Pochettino confirms Walker-Peters set to start against Barcelona|
|Denver Nuggets add free agent Young|
|Topping Group A no magic wand for an easy knockout draw, says Simeone|
|The cake has been made, now we need the cherry - Ancelotti targets repeat at Anfield|
|Lloris braced to face ´one of the best in history´ in Messi|
|Tuchel expects Neymar to face Red Star|
|Foden signs Manchester City deal to 2024|
|It happened to me! - Valverde laughs off Dembele timekeeping|
|´Projecting´ an Argentina return? Messi met with AFA president and Scaloni|
|Erasmus expects to leave head coach role after World Cup|
|Chelsea issue suspensions pending investigation into Sterling incident|
|Kane is extraordinary – Valverde hails reported Barcelona target|
|Man behind Naomi Osaka´s rise wins WTA Coach of the Year|
|England name unchanged Test squad as Willey returns for West Indies ODIs|
|Spalletti: No issue with Icardi watching Superclasico in Madrid|
|Klopp confirms 2013 talks with ´chatty´ Napoli president De Laurentiis|
|Sri Lanka spinner Dananjaya suspended due to illegal action|
|His reaction was just brilliant – Klopp praises Sterling for response to abuse|
|Gomez renewal a ´smart decision´ for both parties – Klopp|
|Magnificent Molinari named European Golfer of the Year|
|Barcelona best option for Frenkie de Jong, insists midfielder´s father|
|Gronkowski on Miami Miracle: ´Got to make that tackle´|
|Tottenham youngster Walker-Peters signs on until 2023|
|Juventus ´more of a family´ than Real Madrid - Ronaldo|