Paris Saint-Germain have rejected Real Madrid’s first offer of €160 million (£137m) for Kylian Mbappe.
The France international has been Madrid’s top target this summer but PSG have stood firm over the 22-year-old’s availability, despite his precarious contract situation.
Mbappe has entered the final year of his current deal with the French club and has yet to reach an agreement, which means he could leave on a free transfer next summer.
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Madrid are looking to capitalise and have been hopeful of securing a deal before the transfer window closes.
According to multiple reports in Spain on Tuesday evening, Madrid have opened negotiations with PSG by submitting a €160m (£137m) offer.
However, several French sources claim that PSG have turned down Madrid’s approach.
Mbappe is understood to be keen on a move to Madrid, however the Spanish club could struggle to reach an agreement with PSG before the end of the window and are prepared to wait to sign the forward on a free transfer next year.
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PSG have significantly strengthened their squad this summer with the arrivals of Lionel Messi, Sergio Ramos, Georginio Wijnaldum, Gianluigi Donnarumma and Achraf Hakimi.
And the French club’s president, Nasser Al-Khelaifi, told Mbappe earlier this month that he had ‘no excuse’ to leave this summer.
‘I think we have the most competitive team. Now there is no choice for Kylian but to stay here in Paris,’ Al-Khelaifi said.
‘I think everybody knows the future of Kylian, people from Paris and the players.
‘He is a really competitive player. He wants to win, he wants to win trophies, he said it in public.
‘He wanted a competitive team and I think we have got the most competitive in the world. So there is no excuse for him now. He can’t do anything else but stay.’
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