The French World Cup winner has been linked with a move away from Paris this summer, but PSG are thought to be reluctant to sell him anytime soon.
The attacker has a contract until the summer of 2022, and PSG could be forced to decide his future this summer unless the player chooses to renew his contract.
The Spanish La Liga giants could offer the player wages of around £1 million a week.
Mbappe has already informed the French club that he does not intend to sign a new deal.
It will be interesting to see if Real Madrid can come forward with an acceptable offer for the player now.
Mbappe is valued at around £150 million, and it is doubtful that any club will match PSG’s valuation, given that the player has just under a year remaining on his contract.
Mbappe is one of the best players in the world, and he could be the next Galactico for Real Madrid.
The reported £150 million valuations would have made sense if he had more years left on his contract, but there is no doubt that the player has the potential to justify that kind of outlay in the long run.
It will be interesting to see how the situation unfolds over the next few weeks now.