The Serie A giants still have to negotiate a fee with Madrid and are expected to have to pay upwards of €100m (£88m/$117m), but could go as high as €120m (£106m/$140.5m)..
Ronaldo's Madrid team-mate Modric, however, does not believe that a transfer will materialise.
“I don't think he's going to leave, and I'd like him to stay because he's the best player in the world,” the 32-year-old said.
“I think he's going to stay; that's my opinion. It would be great if he did, because I can't imagine him at any other club.
“Let’s see what happens.”
Talk of his future has since dominated the news agenda, with many pundits disbelieving that he will depart the Spanish capital for Italy.
The player's agent Jorge Mendes, however, has suggested that Ronaldo may look for a "new challenge" .
“After the request from CONSOB related to the news published recently on media outlets, Juventus Football Club S.p.A is keen to remind that during the transfer season the club is evaluating several opportunities and will publish adequate information as prescribed by the law,” the Italian champions stated.
Former Bianconeri CEO Luciano Moggi went as far as claiming that Ronaldo has “already signed” and is merely waiting on the formalities of the deal to be completed.