Neither deal has been announced by the 11-time European Cup winners but Spanish radio station Copa claim the duo have put pen to paper.
The moves are likely to end speculation about Ronaldo moving in a world-record deal to either China or the MLS while Bale’s new deal will put to bed any potential Manchester United interest.
According to the Daily Express, the Welshman has signed a deal believed to be in the region £91m while Ronaldo has extended his stay at the Bernabeu until 2021.
That would fulfil the Portuguese captain’s target of ending his career in the Spanish capital as he would be 36 years old by the time the contract expires.
The reports from Spain gave no mention of the length of Bale’s deal although with the former Tottenham man currently on international duty with Wales, it is likely to be announced upon his return.
Jose Mourinho was believed to have been open for a move for Ronaldo as well as Bale next summer if he was available, but the new contract means he will likely turn his attentions to Atletico Madrid star Antoine Griezmann.
The striking pair’s new deals are just the start as Real look to reward all of their stars on the back of winning the Champions League last season.
Toni Kroos and Luka Modric are waiting to finalise their contracts while it is reported Keylor Navas will double his wages to remain in Madrid, but there appears no hurry to secure midfielder Isco’s future at the club.
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