Multiple sources tell ESPN that Real Madrid made a 160 million ($188m), offer to Kylian Mbappe. However, Paris Saint-Germain rejected it immediately.
ESPN has been informed by sources close to Real Madrid that negotiations are likely to be difficult but that they hope to convince PSG to reach an agreement before the Aug. 31 transfer window closes.
ESPN is being told by other sources in France that Madrid would have to increase its offer to $200m ($235m), in order to be eligible for the signing.
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Mbappe's contract with PSG is up next summer and the 22-year old has made it clear that he doesn't intend to renew, despite numerous attempts from the club.
PSG thought that Lionel Messi's arrival could change Mbappe’s mind. But that has not happened.
ESPN reported last September, that Madrid was preparing for Mbappe's summer move but were careful to not anger PSG.
Real Madrid has long been interested in Kylian Mbappe, a PSG player. Photo by Aurelien Méunier - PSG/PSG via Getty Images
Madrid had a clear strategy in mind and was not willing to risk jeopardizing a potential deal or the good relations between the clubs. They waited for Mbappe's signal that he felt it was time to move forward.
Florentino Perez, Madrid's president, has long considered Mbappe his No. Mbappe was Madrid president Florentino Perez's long-term No. 1 target. The club knew for months that the forward was eager to make the move.
Mbappe was close to signing with Madrid several times in the past. He tried out the club in 2012 at age 13 and posed for a photo alongside Cristiano Ronaldo. In 2018, he almost signed with Madrid from Monaco before opting for PSG instead.
After accepting his wish to leave reluctantly, the Parisian club finally showed a willingness for negotiation. Now, it is time to reach an agreement that all parties can accept before Tuesday's transfer window closes.
Although Madrid's finances were severely affected by the coronavirus pandemic in 2019, they have maintained a prudent financial management. Sources told ESPN that this year's departures brought in 41 million for Raphael Varane, and 40m for Martin Odegaard. They are now in a position to make an offer for Mbappe.
This story was contributed by Alex Kirkland, ESPN's Real Madrid correspondent.
