Real are believed to be considering an £88m bid from the Serie A champions.
Balague says Ronaldo is keen to push through a move to Italy and that Madrid are prepared to allow the Portugal international leave after nine successful seasons in Spain.
“Quite clearly Real Madrid and Cristiano Ronaldo know of each other’s intentions.
“There was a meeting between Ronaldo’s representatives and Real Madrid last night in which the club heard he wants to go. That is the only thing he wants to do.
“Finally Real Madrid caved in and said ‘Okay, if anybody comes with a bid of 100m euros (£88m) then okay we will let you go’. That is where we stand.
“Juventus have told [Jorge] Mendes and Ronaldo that they will submit that offer at some point and that they will pay him 30m (£26.5m) euros net and are more than happy to give him a four-year contract.
“That is what Ronaldo wants. Now this is the new thing in this situation that has been repeated in the last three summers – Real Madrid are very much open for that to happen,” Balague said.