"Cristiano Ronaldo is to leave Manchester United by mutual agreement, with immediate effect," the statement said.
"The club thanks him for his immense contribution across two spells at Old Trafford, scoring 145 goals in 346 appearances, and wishes him and his family well for the future."
The statement continued: "Everyone at Manchester United remains focused on continuing the team's progress under Erik ten Hag and working together to deliver success on the pitch."
Ronaldo is currently on FIFA World Cup duty with Portugal
The news comes just two days before Portugal's first game in the 2022 World Cup. Ronaldo plays for Portugal's national team.
Ronaldo remains one of the most famous athletes in all sports having built an historic career at at Sporting CP, United, Real Madrid, Juventus, and then a second term at United.
As a seven-time league winner in multiple countries and five-time Champions League winner, Ronaldo is one of the most decorated soccer players of all time.
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In addition to his success at club-level, the 37-year-old has also scored 117 times in 191 appearances for Portugal, winning the UEFA European Championship in 2016 and UEFA Nations League three years later.
Ronaldo is currently on FIFA World Cup duty with Portugal — his fifth tournament finals.
Portugal plays its first World Cup Group H match against Ghana on Thursday, before games against Uruguay and South Korea.
Ronaldo transfer rumors are now rife
Now that Ronaldo has left United and is a free agent in the transfer market, there is great speculation as to where he will play his club-level soccer.
Though no business will likely bear fruit until after the conclusion of the ongoing World Cup tournament in Qatar, Ronaldo's availability will have alerted numerous teams across the planet.
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What is unclear, though, is how big those offers will be. Gone are the days when Ronaldo was in his peak years as a goalscoring forward. What remains is a highly-marketable player who has been branded "toxic" by one reporter.
The same website reports that a move to Major League Soccer to compete in the U.S. — something that has been rumored for years — could transpire.
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