Real Madrid want to come up with a plan to sign Kylian Mbappe before the start of the new La Liga season in the first two weeks of August, according to sources close to the club, as reported by ESPN.
The Spanish club won't attempt a move while PSG keep other pathways open, and they will instead wait for the French club to open negotiations with them.
PSG have made it clear that they are open to closing a deal for the sale of Mbappe this summer, primarily to prevent the Frenchman from leaving on a free transfer next year. Despite this stance, PSG and Real Madrid have not engaged in talks as of yet, according to ESPN.
Nevertheless, Madrid remains optimistic about the prospect of landing Mbappe this summer and is reportedly prepared to move swiftly if PSG shows a willingness to enter into negotiations with them.
Sources indicate that the potential deal would come with a substantial cost for Real Madrid, exceeding €200m already including bonuses.
When it comes to negotiations with the player, Real Madrid is ready to offer Mbappe a six-year contract, linking him with the Spanish side until 2029.
It's believed that Real Madrid have been in communication with Mbappe's entourage and representatives for a considerable time now, and very close to reach a deal before the French forward decided to extend his contract at PSG.
Earlier reports from Spain suggested that PSG valued the young forward at €250m at a minimum, but sources close to the situation revealed to ESPN that they might be open to a lower amount in fear of losing their superstar for nothing if they don't cash in now.
Initially, Real Madrid had planned to wait until 2024 to pursue Mbappe and to land him on a free transfer, but the urgency to secure the deal now stems from the desire to thwart potential competition from Premier League clubs next year, ESPN revealed.
Delaying the move could lead to increased personal terms and a higher signing-on fee for the coveted player, two more reasons Real Madrid might be interested in wrapping up the negotiations this summer.