Spanish clubs FC Barcelona and Real Madrid have been showing interest in the Portuguese midfielder for months, and the deal is sure to quiet transfer rumours for the time being.
Sir Alex Ferguson said to Manchester United's website that it is fantastic news. He also said that Ronaldo has a good relationship with the club, the staff and the fans.
Ronaldo says that he is happy in club and he wants to win more trophies with them.
Christiano has scored twenty goals for United so far this season, and has added five for Portugal in Euro 2008 qualifiers. He is a candidate for the PFA and the Ballon d'Or (European Footballer of the Year), and is hoping to lead United to three trophies this season.
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