Adriano Galliani has reaffirmed Milan's stance that they will not pay a fee for Ronaldo.
The Brazilian forward has slipped down the pecking order at Real Madrid and has been informed that he can seek out a new home.
Milan are keen to bring him back to Italy, but are only prepared to sign the 30-year-old on a free transfer.
Real are eager to secure some sort of fee for Ronaldo and at present there seems no sign of a resolution being found.
Galliani has stressed Milan have no plans to enter into dialogue with Real and has urged Ronaldo to resolve his own future.
"I hear people saying Real are waiting for my trip to Madrid," Galliani told Gazzetta dello Sport. "I want to make it clear that Milan has no intention of opening negotiations with the Spanish side.
"This affair has been presented to us with the assumption that Ronaldo will annul his deal in January.
"So we will not intervene. We will wait with patience up until 7pm on 31st January (when the Italian market will officially close).
"It will be up to Ronaldo to tell us he will be able to free himself within that time."
It has been suggested that Milan have offered Filippo Inzaghi as a makeweight in the deal, but this has been denied by Galliani.
"I repeat there haven't been contacts with Real and there won't be. Pippo is untransferable."