Gill says a £35million bid for the 21-year-old would be turned down.
He told BBC Five Live’s Sportsweek: “There has been no offer. Ronaldo signed a new contract in 2005 to stay with us until 2010.
“He is clearly someone we want to stay and we will make sure that he does.”
He continued: “The big clubs may talk in the papers but they fully understand our position. They know we are not a selling club of our prize assets so there is no way that will be sanctioned.
“As I think Arsenal manager Arsene Wenger has said on many occasions, football clubs aren’t banks – we are there to provide top-class entertainment and put out a top side.
“There is no point having £35m, £40m or £45m if we can’t replace that talent. At 21, Ronaldo has had a great season and we believe the best is yet to come.”
Gill stated that if they recieve an offer for Ronaldo, they would have to go to the club’s owners, the Glazer family, for consideration.
He said: “If I put it to them it would be a very short call. If the manager says ‘no sale’ then they go along with it without a doubt.
“They are fully in support and they fully understand sport. They want to invest in talent, they don’t want to sell our top talent.”
