Buying Cristiano Ronaldo from Manchester United for a figure of up to €100m (£88m) would be "madness", according to Real Madrid presidential candidate Juan Onieva. However, the former vice-president, who has said he will stand in next month's election for the Real presidency, said he was aware of a pre-agreement with the Portugal winger that was set up by former president Ramón Calderón.

He claimed there was an obligation on both parties to come up with an indemnity payment if either changed their mind by 30 June.

"I wouldn't go through with it. If I had to take a decision I would contest the deal. I think it's madness," Onieva said. "I only know the terms in general; I haven't seen the document."

Asked whether the mooted fee for the Manchester United player was €100m, Onieva replied: "I think it is a little less than this, because the deal was made in pounds.

"In terms of the figures, as far as I am aware, it is not right to pay that amount of money especially in times like these. It's almost offensive. Also, I don't think he is the solution for Real Madrid."

Onieva, former president Florentino Pérez and the little-known Eduardo Garcia have said they will stand in the election which is due to take place on 14 June.