With the Portuguese star reportedly unhappy at Manchester United, it is claimed his agent saw a potential route away from the fallen Premier League giants and back to Champions League football.
According to ESPN, Ronaldo's representative Jorge Mendes made an approach to PSG, offering them the chance to add the five-time Ballon d'Or winner to their star-studded line-up, which also features old 'rival' Lionel Messi.
However, it's said the French champions turned down the chance to unite two of the game's greatest ever players.
Mendes has close ties to the new leadership team at PSG, having worked with new sporting director Luis Campos for years before his move to the Parc des Princes, while he has negotiated a number of deals for his players with the club's president, Nasser Al-Khelaifi.
However, it is claimed PSG felt Ronaldo would not be the right signing for the club and they also would not be able to afford to add the Portugal icon to their already sky-high wage bill.
Plus, with Messi, Kylian Mbappe and Neymar as their current front-three, there are doubts how Ronaldo would fit in new manager Christophe Galtier's team.
ESPN further claim that PSG aren't the first European giants to turn Ronaldo down this summer, with Bayern Munich also saying no to a transfer, while it is suggested Chelsea manager Thomas Tuchel isn't keen either.
Although Manchester United and boss Erik ten Hag have maintained he is not for sale this summer, it is widely claimed Ronaldo wants to leave to return to Champions League football.
At 37, the football icon wants to play at the very top level of the game as he enters the twilight years of his career, and that's something United can't offer him having only managed to qualify for the Europa League by finishing sixth last term.
The fact he has not travelled with the rest of the United team for their pre-season tour of Thailand and Australia has fuelled the speculation.
Piers Morgan, a friend of Ronaldo, recently told talkSPORT the forward is 'sick and tired' of the situation at Old Trafford.
The media mogul joined the station again on Tuesday's Drivetime to share the latest on Ronaldo's United future.
"We have an ongoing dialogue," said the TalkTV host.
"As we know, he's a champion. He's won everywhere he's been and I think he was incredibly disappointed with the way United's season went.
"I would categorise his state of mind as he wants to play at the highest possible level and right now United are not at that level. They're not in the Champions League… is he going to get back into the Champions League with the current squad? I don't think he is.
"I think United are in a pretty bad place, I'm not massively excited by any of their transfer business.
"And they seem prepared to lose, in my mind, the greatest player to ever play the game after he just scored 24 goals for them seems an extraordinary situation.
"You can't blame Ronaldo for wanting to leave, why would he want to stay?"