City's new boss Manuel Pellegrini held his first official press conference on Wednesday afternoon and vowed to help the club progress in next season's Champions League and also usurp rivals Manchester United as Premier League champions.
And, in what would be a huge statement of intent, the Daily Star is claiming the club will look to get Portuguese international Ronaldo back to the Premier League with the promise of a mega £300,000-a-week contract.
United have already been heavily linked with a move to try and re-sign Ronaldo, who they sold to Real Madrid for £80million in 2009, while the Spanish giants insist he is not for sale.
Ronaldo recently suggested that he was happy to stay put at the Santiago Bernabeu, where he still has two years remaining on his current contract.
But the lure of such a massive offer could be difficult for him to resist regardless of how much his club's president Florentino Perez has vowed to hold on to him.
However, one big obstacle to a deal, apart from Madrid's reluctance to sell, is Ronaldo's affection for United which he would not want to tarnish by moving across the city to the Etihad Stadium.
Therefore, despite City's financial ability to pull off such a coup, it is more than likely they will settle for signing either Sevilla hitman Alvaro Negredo or Fiorentina's Stevan Jovetic ahead of the new season.