Earlier this week, Manchester United announced that they had agreed to part ways with the Portugal international by mutual consent, a consequence of the veteran's scathing interview on the club.
While there had already been speculation about an exit for Ronaldo, his new status means that he is free to explore all opportunities which come his way.
As it stands, Ronaldo is currently representing his country at the World Cup, the 37-year-old netting a penalty as the 2016 European champions defeated Ghana by a 3-2 scoreline on Thursday evening.
Nevertheless, until he reaches a decision over his next club, there will inevitably be constant talk about the next, and potential final, move in a legendary career.
According to Veja, Brazilian giants Flamengo hold an interest in attracting one of the sport's superstars to South America.
Although Flamengo could only finish in fifth place in the league during 2022, the Scarlet-Black were able to win the Copa Libertadores for the third time in their history.
That has ensured continental football for next year, and it appears that Flamengo want to do everything possible to facilitate a proposal for Ronaldo.
The report claims that Flamengo have held discussions with club sponsors to determine whether they are able to contribute to financing a deal.
While no negotiations have been held with anyone tied to Ronaldo's camp, it is indicated that an approach is likely to be made over the coming weeks.
Flamengo are already blessed with a strong forward line, which includes Gabriel Barbosa and Pedro, while the likes of David Luiz and Arturo Vidal are also currently tied to the club.
Al-Hilal are said to be another club who have recently joined the race for Ronaldo, although Newcastle United reportedly have no interest in trying to attract the attacker to St James' Park.
Despite dropping down the pecking order at United this campaign, Ronaldo still managed to make 10 starts and six substitute appearances before his departure.
However, his solitary Premier League strike came back on October 9 against Everton, while he netted just once in his final six starts for the club.