Dude. Loads of clubs are owned or part-owned by members. But they’re still businesses that need to look to balance the books. This is an opportunity to bring in a gigantic fee for Ronaldo, who can only decline as a player. The value of buying Mbappe this summer is to ensure that no other club can buy him and thus obstruct you from buying him in the future. Same goes for Donnarumma. Neither would have to go straight into the side as a regular. And I genuinely think that Lukaku would give you almost all of Cristiano’s production if he were consistently playing with the same quality of players that Cristiano enjoys in a team that’s built with the primary aim of seeing him score.
Bale, Benzema, Lukaku, Mbappe, Asensio, and Vasquez is a killer line-up of forwards. For now and the present. And that’s without even considering Morata and what you could turn him into. I’d be all-in on securing potentially generational talents like Mbappe and Donnarumma while you can, buying a young versatile player like Alaba to provide cover and competition for Casemiro and Marcelo, and bringing in Lukaku to replace Ronaldo’s production. Madrid should easily be able to get that done with what they’d bring in for Ronaldo, James, and Morata. Selling Ronaldo would give Madrid the opportunity to buy the players who could be the foundation for the next decade of domination whilst giving the club a much more rounded squad to remain right at the top of the tree in the here and now. Sticking with Ronaldo could mean years of trying to get the squad to fit around him and a consequent painful period of adjustment as he becomes less effective/leaves.