Reports in Portugal broke on Friday that the 32-year-old wants to leave Real Madrid only weeks after leading the club to back-to-back Champions League titles in Cardiff.
It came days after he was formally accused of defrauding the Spanish taxpayer of €14m, leaving Ronaldo unwilling to continue playing in Spain, with Portuguese papers calling the decision “irreversible”.
“You can’t measure it, but it would be huge, and more so on the international growth of La Liga.
“It would be a massive loss for us; an irreparable loss.”
While Ronaldo is understood to have decided to leave Madrid before the Champions League final, the tax issues surrounding him at present are the driving factor but Tebas believes the forward is completely innocent and cannot understand the crime that he has allegedly committed.
“Knowing those around him, and how professional they are, I’m positive that Cristiano is innocent,” he added.
“We live at a time when any news about Spain’s Tax Office means everyone is a fraudster.
“I’m sure he’s innocent. From what I’ve read, I’m sure he hasn’t committed any crime.”