How Cristiano Ronaldo makes and spends his millions

Ronaldo is reported to have made $88 million this year with a $56 million salary and $32 million in endorsements

Star footballer Cristiano Ronaldo is the highest-paid athlete of any sport.

The Portugal football team captain is reported to have made $88 million this year with a $56 million salary and $32 million in endorsements, according to Forbes.

Earlier this week, the footballer who has been part of Nike's team since 2003 signed a new 'lifetime' contract with the company. He is the third athlete to sign a lifetime deal with Nike joining LeBron James and Michael Jordan. This new deal reportedly pays Ronaldo $24 million per year for the rest of his life. At this rate, the deal will reach $1 billion in total value when Ronaldo is 73 years old.



Ronaldo also recently signed a new five-year deal with his La Liga club, Real Madrid. That deal is reportedly worth $460,000 per week or about $24 million per year, and will keep him in Madrid until he is at least 36. If he ever leaves Madrid, the team that buys him will have to pay the club $1 billion in a buy-out.

With all these new deals, we take a look at what the millionaire spends his money on:

Ronaldo's biggest hobby is cars. He drives a $300,000 Lamborghini Aventador along with his Maserati. He also reportedly owns a Bentley, a Porsche and a Mercedes among others. However, the footballer is not always careful with them and in 2009 he crashed a $320,000 Ferrari in Manchester, where he used to play.

PHOTO: REUTERS

Ronaldo lives in a $7.1 million villa in La Finca — an exclusive community in Madrid built by architect Joaquin Torres. In 2015, he reportedly dropped $18.5 million on an apartment in Manhattan's Trump Towers. He has also opened a gorgeous, football-themed hotel in his hometown of Madeira, Portugal.



PHOTO: YOUTUBE SCREENGRAB

The footballer has been spotted wearing a $160,000 Jacob and Co. watch; a company he has an endorsement deal with.

Ronaldo spent $31,000 to have a wax statue made for himself to keep, just like the one of him at Madrid's Museum of Wax. He also reportedly provides a hair stylist who shows up once a month to the museum to make sure the hairstyle is current. Presumably he does the same with the statue at his home.

Ronaldo is a fan of cryotherapy where the body is subjected to temperatures as low as minus 264 degrees Fahrenheit to help muscles recover and to heighten his alertness. According to Daily Mail, the chamber costs around £36,000 and according to Spanish paper El Mundo, Ronaldo installed the equipment into his La Finca mansion on the outskirts of Madrid after using it in the luxury neighbourhood’s gym.



Further, Ronaldo reportedly paid $22 million to not appear in a film being made by Martin Scorsese.

He told The Guardian, "I think that because I am rich, handsome and a great player people are envious of me. I don't have any other explanation."

This article originally appeared on Business Insider.