The former Blancos president says the club should not be afraid to offload the Portuguese star if the player is unhappy in the Spanish capital
The current administration took over from Calderon in 2009 with his successor Florentino Perez bringing in the Portuguese maestro for a world record transfer fee.
Calderon has been critical of the new regime since his departure and when asked about the Ronaldo situation he insisted the right course of action would be to let 27-year-old leave the club.
"If a player is unhappy, they must go," he told Eurosport magazine.
"It happened to me with Robinho; it was a dramatic saga, but he was bought for €28 million and sold for €48 million, so it was a good deal."
Calderon also voiced concerns about those closest to the Portuguese star becoming increasingly influential behind the scenes at the Santiago Bernabeu.
"Jorge Mendes [Ronaldo's agent] is now the club president, without having been elected by the board, they left the club in his and Mourinho`s hands," he sarcastically added.
“He's made decisions; some players have come because he was their representative, the president knows what he's done."
Calderon also believes the current saga involving Ronaldo must be put right by Blancos coach Jose Mourinho.
"Mourinho is a great coach and motivator, but sometimes behaves regrettably. It’s an issue that needs to be addressed by the coach himself, but it seems difficult,” he continued.
In another attack on the current Madrid regime he revealed he turned down the chance to sign Kaka whilst in charge of the club.
"We tried to sign him [Kaka] in the first year, but we couldn't and in the second year we could have, but the scouting reports we unfavourable for various reasons," he said.
"Florentino decided to sign him, and now he has to find a way to solve the problem with the club."