With the future of Jose Mourinho still uncertain, City want to capitalise and strike while the iron is hot.
And money appears to be no object, as super rich owner Sheikh Mansour is ready to "splash his cash".
According to Portuguese paper O Jogo, City are prepared to offer £134m for the pair.
The one barrier could be that Ronaldo may not to wish to go to the Etihad because he would obviously incur the wrath of the bitter rivals up the road.
However, Real could make a sizeable profit on Ronaldo, whom they paid United £80m in 2009 to bring him to the Bernabeu, and they know there is no other club out there with that sort of clout!
Ronaldo has got 14 goals in La Liga this season.
Source: Manchester City MAD