The potential of Asensio is likely to lead to Real cashing in on Gareth Bale at some point but it is thought Zinedine Zidane wanted another season of development under the youngster's belt before allowing the Welsh star to leave.
The 21-year-old has made an impressive start to the season and Zidane has clearly been impressed to laud his performances.
Ronaldo is eligible to feature in Wednesday's Champions League group-stage opener at home to Cypriot side APOEL, as Madrid looks to get back to winning ways and begin the defence of its European crown in strong fashion.
'I don't know how much I'm worth...
'Zidane told me that since Messi, he had never seen a left foot like mine, ' he told COPE.
'If I would go to PSG?
Zidane told me apart from Messi, I'm the best left footer - Asensio
The coach said that Ronaldo was focused on the task ahead and was very happy to have the opportunity to play again.
As fans of Los Blancos have been keen to remind their bitter rivals over recent months, Barcelona had the chance to sign Asensio from Mallorca prior to Real's offer, but refused to pay the asking price of 3.9 million Euro.
"I started with the first team of Mallorca and Barca appeared", Asensio said.
'The end is the destination, not Barca, and I was delighted to be at Real Madrid and to defend this shirt'.
"He's in a very good mood and is very happy to play, because this is what he really loves, playing football, but he's also right mentally and he's happy to be on the pitch again", Zidane told a news conference.
Mercedes-AMG Project ONE hypercar concept blasts in with 986bhp
The rear wheels are driven by a brand new eight-speed gearbox, which can be operated via shift paddles on the steering wheel. Inside the two-place cabins, the seats themselves are integrated into the monocoque and yet have adjustable backrests.
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