The Lions already landed Brazilian maestro Kaka as they seek to establish themselves in the league, and Robinho and Javier Hernandez were also linked with moves.
But Flavio Augusto Da Silva revealed that the Ballon d'Or holder is at the top of his wishlist.
"Truthfully, we like Cristiano Ronaldo a lot. We'd sign him without thinking about it," da Silva said in an interview with Marca.
"Physically, he's more complete than [Lionel] Messi, and he'd make more of an impact on a marketing level in MLS than the Argentine."
Orlando has not enjoyed the best of fortunes so far in its debut MLS season, sitting in seventh place in the Eastern Conference standings. The top seven teams make the playoffs.
The owner, however, maintained hope that Ronaldo could help his side to a better campaign.
"Hopefully, we can sign him for this upcoming season. We've always heard that he'd like to come to the United States to play," he affirmed.