The World Cup record goal scorer had an unhappy time at the Bernabeu last season as he became the focal point for fan's frustration.
However, the three time world player of the year claims he is happy to have remained in Madrid.
"(Ramon) Calderon (Real's president) was always very clear with me from the beginning," Ronaldo told Radio Marca.
"Only the people thinking about economics wanted to sell me.
"I could not decide (to go) because I am a Real Madrid player and I have two years left on my contract."
Currently recovering from surgery, the player dubbed 'el gordo' due to his weight problems has promised to score 30 goals this season for the nine-time European champions.
"I was delighted to learn that AC Milan and Inter Milan wanted me. I treated it calmly and seriously.
"I didn't negociate anything with anyone and sent everyone to speak to Real Madrid. I wanted to stay. That's what happened and I'm happy to stay."
The two time World Champion had previously said his future lay away from Real Madrid.
Now that his future is secured he may face a fight to regain his place in the team with former Manchester United forward Ruud van Nistelrooy is fine form for Italian manager Fabio Capello.
"Capello is a serious man, he is very capable and most of all he has his own ideas that demand respect," added Ronaldo.
"As for my recuperation, I am getting better every day and I am getting back to my best physical condition."