According to RMC Sport, Kylian Mbappe decided to stay with Paris Saint-Germain instead of joining Real Madrid.
The renewal contract hasn't been signed yet, but the player rejected an offer from Madrid after receiving similar terms from his club.
Emails and phone calls seeking comment on Saturday were not responded to by media representatives. Outside office hours, representatives at Real Madrid weren't reachable.
One of the sport's most expensive deals ever was expected to have been signed by Kylian Mbappe. The French club has rejected all the offers that Madrid has made, including one last August worth 200 million euros.
Le Parisien reported on Saturday that the player will sign a new three-year contract with the club. Anne Hidalgo, the Mayor of Paris, welcomed the player's decision.
After the two teams reached an agreement, Mbappe moved to Paris from Monaco. He is now one of the world's top players.
In 2015, as a 16-year-old, Mbappe helped Monaco win the Ligue 1 national championship. He won four national titles with Paris Saint-Germain and was named the league's best young player.
His ability to take the ball past opponents stood out as he spearheaded France's push to the World Cup title, his goal in the final being the first by a teenager since the year 1957.
With help from Thomas Gualtieri and Andrew Davis.
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