Cristiano Ronaldo Reclaims Title As World’s Highest-Paid Soccer Player

That didn’t take long.

Just two weeks after he was dethroned as soccer’s most expensive player by his teammate Gareth Bale, Cristiano Ronaldo is back on top.

The Real Madrid star ended months of speculation when he signed a five-year contract extension with the La Liga team, once again making him the highest paid soccer player in the world.

Ronaldo agreed to a $206 million deal that will keep him in Spain through the 2020 season, Forbes reported.

"It's a very special day for me," Ronaldo told a packed media hall on Sunday. "I'm very grateful, above all to the president and to my fans who always support me. It's for them that I will continue on here until what could be the end of my career."

Real Madrid convinced the 28-year-old Portuguese striker to stay put. At the same time, experts say, the team is showing its fans that they are committed to building a winning team by spending on talent.

Part of the reason Real Madrid can afford these record-breaking contracts is because they are the most valuable sports team in the world. Recently, the team raked in record revenue and increased their value by $100 million, to $3.4 billion.

"Ronaldo has won the hearts of all of Madrid's fans," club president Florentino Perez said. "And his goal-scoring numbers are simply amazing. He has reached 203 games and scored 204 goals with Madrid. There are no precedents for such spectacular figures."

Ronaldo has scored more than 50 goals in each of the last three seasons with Madrid after joining in 2009 on a then-record transfer of $124 million from Manchester United. Ronaldo has helped Madrid win one Spanish league and one Copa del Rey, although the team has come short of an elusive 10th European Cup despite his incredible goal tallies.

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