MADRID - Real Madrid forward Cristiano Ronaldo has published a communique insisting that money is not the reason he said he felt 'sad' after failing to celebrate his two goals against Granada on Sunday.

The striker's words have sparked speculation that he is looking to renew his contract with Real Madrid at the start of his fourth season in the club.

Real Madrid's Cristiano Ronaldo (C) challenges Granada's Juanma Ortiz (L) for the ball during their Spanish first division soccer match at the Santiago Bernabeu stadium in Madrid on Sept 2, 2012. [Photo/Agencies]

Ronaldo earns around 12 million euros a year at Real Madrid, but recent signings, such as that of Didier Drogba for Shanhai Shenhua mean that he has dropped to tenth in the list of top-earning footballers.

With Spain being involved in an economic crisis with around 25 percent of the workforce unemployed, the fact that Ronaldo could be looking to earn more money has not been received with sympathy, with 81 percent in sports paper Diario AS, saying he had no reason to feel sad, and that has provoked Ronaldo to respond that financial reasons are not behind his 'sadness'.

"That I am feeling sad and have expressed this sadness has created a huge stir. I am accused of wanting more money, but one day it will be shown that this is not the case.

"At this point, I just want to guarantee to the Real Madrid fans that my motivation, dedication, commitment and desire to win all competitions will not be affected. I have too much respect for myself and for Real Madrid to ever give less to the club than all I am capable of," said a statement posted on his facebook page.

This raises the question as to relations between Ronaldo and several players in the Real Madrid squad. Iker Casillas and Sergio Ramos sent messages of congratulations after Barca's Andres Iniesta was named UEFA player of the year last week, while Marcelo, previously his best friend in the Madrid dressing room, recently said he would vote for Casillas as a candidate for the prestigious Balon D'Or, which Ronaldo is desperate to win.

Meanwhile Madrid midfielder, Xabi Alonso, showed scant sympathy for his teammate when asked about the affair while on duty with the Spain squad.

"I'm happy, but everyone is how they are," said Alonso, while fellow Madrilista, Alvaro Arbeloa said if Ronaldo needed more affection from the dressing room. "he would receive it."

Finally Rayo Vallecano coach Paco Jemez joked that if Ronaldo was sad at Madrid, then his club, whose annual budget would just about cover Ronaldo's salary, "would welcome him with open arms."

Ronaldo is currently injured after receiving a blow on his thigh against Granada, however, he is expected to recover in time to return to training with Portugal on Friday.