Guillem Balague's BBC Sport column

It was supposed to be a dream for Real Madrid.

At the start of the week, announce the signing of Kylian Mbappe, the world's most coveted player, and win the European Championship at the end of it.

Florentino Perez, the club president, was very confident that a deal for the World Cup-winning France forward would be done.

It has not gone well that Mbappe chose to stay at Paris St-Germain. The Madrid press have been apoplectic, to the point that in the early part of this week all coverage was about the non-deal.

The controversy surrounding Benzema may be good news for some of the club's key players.

Real Madrid had been expecting a build-up to their bid for a 14th European title.

Kylian Mabppe smiling at a press conference
If Kylian Mbappe sees out his contract at PSG, he will have been at the club for eight years

While the disappointment of missing out on the title by a point to Manchester City has affected the preparation for the Paris final, the Real Madrid squad have had a different problem to contend with.

Many of the group were looking forward to the chance of playing with him, not least because they had been assured his arrival was a done deal.

The Madrid media felt the same, and the main reason for the furore was that all they had heard recently was Perez's version of events.

Sources close to the president say that everything was agreed. Perez had said in private meetings and dinners that it was all done, as Mbappe had started to look for a property in Madrid, his presentation to the fans was already being organised.

Perez told everyone that the player was counting the days before he came and that the rejection over the past eight months of a new contract offer from Paris Saint-Germain only confirmed their belief that this was in fact the case.

He said that he would make his decision at the end of the season.

He was told by Real Madrid that he had to choose between money and glory.

His motivation was more than just financial.

Despite what you may have read or heard, Kylian Mbappe did not say "no" to Real Madrid, but "yes" to Paris Saint-Germain and to his native France. That was clear to me when I met him in Paris.

'You never know what can happen in the future' - Mbappe

The player firmly believes that he has unfinished business in Paris, despite the fact that there were very little to choose between the offers on the table from both clubs.

Money was a factor, but it was also about love and power, three things humans crave. Everyone is going to have to adapt to the fact that the player is the focal point of the club. That includes Lionel Messi. Let's see how that works.

By the end of his lucrative new contract, Mbappe will be just 26 years old and likely to be at his absolute peak. Don't say never; anything can happen.

Real Madrid's current star man, Karim Benzema, is 37 and might not still be at the club when that deal expires. Perhaps that helps explain his bizarre Instagram posting of a picture of Tupac Shakur, with an image in the background of a 'friend' of the rapper who supposedly betrayed the artist before his murder in 1996. This was seen as a less-than-subtle signal to highlight Mbappe's own 'betrayal'.

The powers that be at Real Madrid made a lot of noise about something that had come from Benzema, and Kylian Mbappe was quick to point out that it was more about the powers that be at Real Madrid making noise than anything that had come from Benzema himself.

It took Benzema's intervention to change the mood this week after he was involved in the saga.

He pressed the reset button during the media day on Tuesday, saying the time had passed for discussing the minor matters and it was time to focus on the match.

Vinicius Junior and Rodrygo are two people involved in the final who will probably not be upset by the fact that Kylian Mbappe won't be in Madrid.

Vinicius has played more minutes than any other Real Madrid player this season and he has been a great performer in the playoffs. Rodrygo scored twice in the dying moments of the game against Manchester City to keep the tie alive, but he has been used less often this season.

Vinicius, who was told as a teenager that the club were looking to him rather than Mbappe as its future, is going to get more support. His importance to the Spanish champion has grown. Vinicius will benefit from not looking over his shoulder.

As I write, new contracts are being negotiated for him and Rodrygo. Real Madrid now realize that this is the coat that they must cut their cloth to. They can no longer compete in the buying of superstars and will have to sign talented youngsters like the aforementioned pair and Eduardo Camavinga to turn them into superstars.

The big question is where does this leave Real Madrid and its president?

It is time for a reality check for Perez and the club as a whole. The timing of these huge deals is in the hands of the players, so they have to accept that, even though they are used to coming off second best in any transfer negotiations.

Perez is an astute leader with a killer instinct, and previous dealings have shown the footballing world that what he and Real Madrid want, they invariably get.

But not anymore.

Florentino Perez
Real Madrid president Florentino Perez has had questions to answer this week after his confidence that Kylian Mbappe would join the club this summer proved misplaced

The arrival on to the scene of state-linked clubs like Manchester City has brought a change to European football. The game's two young superstars, Erling Haaland to Manchester City and Kylian Mbappe to Paris Saint-Germain, have decided to trust their futures for the time being to these clubs, rather than the likes of Real Madrid.

Real Madrid have lost a lot of weight and prestige in the market because of their inability to get the Mbappe deal over the line. It's not a good feeling for a club that considers itself the most important in the world.

Real Madrid are still very well run, with manageable debt despite rebuilding the stadium, with a squad that is evolving and which will get younger this summer.

They are one game away from completing a double.

The heads of serial winners used to be calm when I was with them in Madrid on Tuesday. The players entered the biggest week of the season as if they were walking on a beach. It is not arrogance. They have nothing to lose, but with confidence they have a good chance to win.

They don't have the extra oomph that a Galactico would give them in the commercial world.

How much do they need on the pitch? On Saturday, we might find out.

The focus of the Football Daily is on European football.

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