The 35-year-old penned a four-year contract with the Old Lady upon his arrival in the summer of 2018, and he has scored 65 times in 89 appearances for the Italian champions in all competitions.
Ronaldo ended the 2019-20 season with 37 goals in 46 appearances in all competitions, but according to Balague, Juve are hoping to sell the Portugal international during this summer's transfer window due to his substantial wages.
The journalist told BBC Sport: "The reason why Cristiano Ronaldo has been linked to PSG (Paris Saint-Germain), it's not so much that PSG are thinking of getting him. It's because Jorge Mendes has been given instructions to actually find a team for Ronaldo. We have seen this in the last six months, he was linked to Real Madrid.
"Real Madrid said: 'no chance! He's not coming back'. There has been talks about MLS, etc. Because Juventus want to get rid of that wage. It's as drastic as that. He's been offered everywhere, including Barcelona. I'm not sure if they can get rid of him easily.
"In fact, with the kind of money, if he still earns the €23m (£20.8m) net that he was earning at Real Madrid, and I think he equalled his wages when he went to Juventus, who's going to pay that kind of money?"
The thought of Ronaldo lining up alongside a certain Lionel Messi at Camp Nou would surely excite the Barca supporters, and with that in mind, Sports Mole takes a look at how the Catalan giants could line up if the former Sporting Lisbon youngster made a stunning move to Camp Nou.
Barca have already secured a deal for Miralem Pjanic ahead of the 2020-21 campaign, and the 30-year-old is likely to form a first-choice midfield three with Frenkie de Jong and Sergio Busquets next season.
Manchester City's Eric Garcia could return in a defensive area, but the financial impact of the coronavirus outbreak suggests that the Catalan giants are unlikely to make any big-money defensive signings, meaning that their back four is likely to have a similar look next term.
Ronaldo's potential arrival, meanwhile, would surely end Barca's chances of signing Inter Milan's Lautaro Martinez. The Argentina international has been strongly linked with a move to Camp Nou, but a deal would be almost impossible if Ronaldo were to arrive due to the finances involved.
Antoine Griezmann could therefore benefit to become Barca's main player through the middle, with Luis Suarez, who has had his injury problems this season, rotating in and out of the XI when possible. Griezmann has struggled to produce his best form since arriving from Atletico Madrid but could thrive in a central area as Ronaldo's presence would take a lot of attention off the Frenchman.
Messi would therefore again feature on the right, with Ronaldo operating off the left. The Portuguese has played as a centre-forward for Juve this season, but the majority of his football has come as a left-sided attacker, and a return of 22 goals from 28 appearances in that area of the field is an indication of his effectiveness.
It would certainly be some story if Barca did manage to bring the former Manchester United attacker to Camp Nou, but a lot would have to happen for the deal to occur in the coming weeks.