The Manchester United winger is a top-priority for Los Merengues but Inter could hijack the deal and swoop for the Old Trafford star.
Ronaldo has expressed his desire to join the Santiago Bernabeu outfit and he keeps dropping hints that he will move to Madrid.
However, Inter are believed to be waiting to ambush Ramon Calderon's plans. El Mundo Deportivo claim that Inter will join the race for the player and a move could be easier than expected as both Jose Mourinho and Ronaldo share the same agent, Jorge Mendes Mourinho may use his good relationship with the agent to try and convince the young.
United have always denied that they would sell their player but with such mega offers being touted, it would be too hard for the Glazer's to reject any mega money bid from abroad.
Real are favourites to sign the Portuguese winger but Mourinho is a big fan and friend of the player and so the Nerazzurri have a chance of clinching a possible coup if the Real move fails.
Massimo Moratti is not afraid to splash big and he has proved this in the past. If Mourinho asks for Ronaldo then there is a good chance Moratti will provide the necessary funds to land him.
The Nerazzurri are currently under-going major changes with Mourinho planning to bring in the Portuguese contingent, one of them might just be Ronaldo.