They say that his support caused them to spend money that they later lost.

They want “a sum exceeding” $1bn (£790m) in penalties.

The BBC has asked both Ronaldo’s management company and Binance for their thoughts.

Binance and Ronaldo revealed the first “CR7” collection of non-fungible tokens (NFTs) in November 2022. Ronaldo said the football player would thank fans “for all the years of support.”

NFTs are digital goods that can be bought and sold but don’t exist in the real world. Most of the time, they are used to show who owns something, like an online photo or movie.

“CR7” is Ronaldo’s initials and shirt number. It is used as a brand name on many items, from shoes to perfumes, which has helped him become one of the richest players in the world.

Ronaldo told people who wanted to invest in the pair on social media, “We are going to change the NFT game and take football to the next level.”