Kylian Mbappe to Real Madrid latest transfer news: Updates on potential summer move after declining PSG extension

Kylian Mbappe's future at PSG is once again in doubt as rumours of a move to Real Madrid are reignited.

The France international wrote a letter to the Parisian club to let them know that he does not intend to extend his contract once it expires in June 2024. This has opened a door to a transfer in this window as PSG do not want the striker to leave for free at the end of next season.

This has led many to believe that a move to Real Madrid is still possible as Los Blancos search for a long-term replacement for Karim Benzema, who has moved to Al-Ittihad in the Saudi Pro League.

The Sporting News looks at the latest transfer news surrounding Mbappe.

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Kylian Mbappe to Real Madrid latest news

According to RMC's Xavier Grimault, Mbappe is in control of his future and he intends to move to Real Madrid. 

Grimault said: "The PSG project is no longer the same in turn right now. Mbappe has all the cards in and. Before leaving, Lionel Messi urged him to leave too. He wanted him to join Barcelona... if not Real Madrid. But all of that, like I said, goes with the flow of history."

MARCA and El Chiringuito's Jose Felix Diaz agrees with the views of Grimault. He believes that Mbappe will join the club that has openly showed interest in him over the past few years. 

90min claim that PSG president Nasser Al-Khelaifi has held talks with Mbappe's agent, his mother Fayza Lamari, about the club's stance on the matter. It is likely that he told her about the club's intentions to sell the forward in this window.

Yvan Le Mee, who is the agent of Real Madrid defender Ferland Mendy, has said that Real Madrid cannot sign Mbappe this summer. In an interview with Marca, Le Mee said: "Will Mbappe go to Madrid this summer? Absolutely not. I'm close to Real Madrid, they have no money."

What Mbappe said about potential transfer

After news of Mbappe's letter to the club went public, stories quickly began to emerge of a potential move to Real Madrid. It did not take long for the 2018 World Cup winner to respond to the rumours.

He called the gossip "LIES" before stating that he will continue to play for PSG in the 2023/24 season as he is happy to stay with the Ligue 1 champions. It seems like Mbappe has different plans to the club regarding his future, which could get messy in the next few weeks.

However, it would have been a big surprise if Mbappe tweeted that he would want to go to Real Madrid because of his relationship with the PSG ultras. Fans have already been seen chanting negative things about Neymar and Lionel Messi due to their intentions to leave the club with the latter already signing for Inter Miami.

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What is Kylian Mbappe's transfer fee?

A potential issue that the record Champions League winners could face is the price tag of the 24-year-old. Florentino Perez has already spent an initial £88.5m ($112.6m) on Jude Bellingham in this window, so spending over twice as much on Mbappe may not be an option.

Although the forward only has one year left on his contract, he is a World Cup winner and World Cup Golden Boot winner, a five-time Ligue 1 top goalscorer, four-time Ligue Player of the Year and was the 2017 Golden Boy.

As PSG signed Mbappe for £153.9m ($195.7m), they will want to sell the player for more than that price as they know his potential. He will be tipped to win at least one Ballon d'Or throughout his career as well as a Champions League.

PSG Community have stated that Mbappe will cost Madrid £171m ($217.5m), which Perez has agreed to, but it could still rise with add-ons.

Mbappe formally declines PSG extension

Mbappe shocked fans when news was released of his formal letter to the club's hierarchy as many were expecting a quiet summer for the Frenchman. With Lionel Messi on his way to Inter Miami, it was thought that Neymar's future would be the main transfer story.

It was reported that the PSG board did not take the news well, despite Mbappe claiming the letter confirmed what he had already previously told those in charge of the club.

This led to a breakdown in their relationship, which is why PSG's main star is now linked with a move to Real Madrid once again.

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When Mbappe nearly joined Real in 2022

Mbappe grew up with pictures of Real Madrid icon Cristiano Ronaldo on his wall, so he was always expected to join the Spanish giants. This made him a target for Perez, who is known for making signings of this calibre.

Madrid were expected to sign Mbappe on a free transfer in the 2022 summer transfer window as they made bids worth up to £171m ($217.5m) over the course of the 2021/22 season. 

Fans were caught off-guard when he chose to renew his contract with PSG instead of moving to Real Madrid, but he once again finds himself in a similar position.

Mbappe stats, trophies won at PSG

Here are Mbappe's key stats while he has been at PSG and the trophies he has won during his time with the club.