By David Salazar, d.salazar@latinospost.com (staff@latinospost.com) | First Posted: Jul 15, 2013 12:03 AM EDT

Could Cristiano Ronaldo remain a target for Manchester United?

According to UK Publication The Daily Mail, the team is prepared to spend close to 60 to 70 million pounds to bring in a major star. The publication writes: "Manchester United are ready to splurge on a world class player like Cristiano Ronaldo or Gareth Bale, after the club admitted they would back David Moyes if he wants to sign a 'stellar player' this summer."

"We haven't got money burning a hole in our pocket but we have got a strategy on player purchases and if David wants to go after a stellar player he can do that," said Manchester United chief executive Ed Woodward.

"The way we worked with [Sir Alex Ferguson] was he would identify the transfer targets and take them to [joint chairman] Joel (Glazer) and [former chief executive David Gill], who would have discussions which ended with them backing him in the transfer market every single time and we see that continuing with David Moyes," Woodward added."We could have broken the transfer record in the past if we'd wanted to. Alex may not have got all the players he wanted but that was never down to not releasing funds. There's never been a cut-off price."

Ronaldo has been a hot topic and has been constantly linked with a return to the Old Trafford. The former Manchester forward has admitted that he misses playing in England, but has reportedly sought out a means of extending his contract with Real Madrid.

Meanwhile Gareth Bale is likely to remain with Tottenham Hotspur. "We have the pledge of the chairman that Bale is not going to leave the club," Tottenham manager Andre Villas-Boas stated in an interview with Spanish newspaper Marca.