The Italian says he knew Ronaldo would arrive at the Bernabeu from Manchester United this summer and insists he has no regrets about leaving Madrid for a return to Juventus.
Kaka has already completed a £56m move from AC Milan and the spending is set to continue, but Cannavaro warned: 'The club is going to have to do more because these players will not solve the internal problems. The most important thing for the team is to achieve a group mentality. This year there was no culture of working together.'
Fabio Cannavaro talks to the media ahead of Italy's campaign in the Confederations Cup
Cannavaro confirmed reports that an agreement to sign Ronaldo had been in place for a long time.
Sportsmail believes it was discussed last summer when Ramon Calderon was president and then confirmed earlier this year.
New president Florentino Perez sanctioned the deal this week but the impending second era of the galacticos did not sway Cannavaro.
'I am not repentant. I'm satisfied with the three years I spent there and I knew their plans before I left,' said the 34-year-old.
Real Madrid have signed two superstars of the game in Kaka and Ronaldo
'Cristiano Ronaldo had already been bought by the old management and they were about to sign Kaka, before Florentino Perez, but they ran out of time.'
Madrid have come under fire for their lavish spending in the current economic climate, but Cannavaro is not surprised they have targeted the best.
'They are incredible figures, astronomical ones, especially in a world crisis as we are experiencing now,' he said. 'But those figures reflect the club culture of always being accustomed to being the best.'
And Cannavaro expects the shopping spree to continue. 'I think Madrid need five signings,' he said. 'Most of them in attack, as that is Real Madrid's playing mentality.'
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