The retired striker did his best to help the Spanish side open dialogue over a transfer for the teenager, but his current club were against any deal for the 19-year-old
Ronaldo, now working for football agency '9ine', which he founded after retiring from the game in February, has been blamed by the Santos chief for trying to earn money off the back of the young Brazil international.
The 19-year-old penned new terms with Santos two weeks ago and pledged his future to the club until 2014, and Ribeiro has since revealed Ronaldo tried to change things prior to the deal by acting on behalf of Real Madrid.
"Ronaldo was the first to speak with Real Madrid and then after that people from the club arrived from Spain," Ribeiro told Folha de Sao Paulo.
"He came to me with an offer, but it was well below the buy-out clause [believed to be around £38.7 million].
"He has stopped being a footballer and he quickly turned into a businessman. I think he wanted to earn money, it's his right. I don't want to earn money. He does."
Ribeiro said Santos' aims are to ensure Neymar develops as a player rather than manage his interests off the field.
"We do not act in the same area as the agents. Our job is to ensure Neymar enjoys a successful career," he said.