Florentino Perez tells Real Madrid squad of Kylian Mbappe transfer U-turn

Mbappe is set to sign new PSG contract

Real Madrid president Florentino Perez has reportedly told the Madrid dressing room that Kylian Mbappe will not be signing for the club. As reported by Spanish journalist Guillem Balague, Perez went in to the home dressing room after Los Blancos' 0-0 draw against Real Betis on Friday to inform the squad that the Paris Saint-Germain forward would not be joining them in the summer transfer window. https://twitter.com/GuillemBalague/status/1527764855826092035?s=20&t=jHR8f9pKbPXsApoLDS2JpA

Frenchman set to stay in Paris

Mbappe's contract with the Parisians expires next month, but the 23-year-old is set to announce his decision to stay with PSG this weekend, having reportedly agreed terms with both clubs before ultimately opting to remain with the Ligue 1 outfit. The Frenchman's mother, Fayza Lamar, recently told Kora Plus that there is "no difference" between the two offers. "We will not have new meetings to discuss Mbappe's future, these meetings are now over," Lamar said. "Now we have found an agreement with both Real Madrid and PSG and the discussions are over because it is Kylian who has to choose now. "The two offers, that of PSG and Real, are almost identical. At Real, my son will have control of his image rights. We will now await his decision. "In the Real Madrid offer we have full power of image rights, on the other hand there is an economic balance that rewards this thing. In short, there is no difference between the two are similar."

PSG offer Mbappe eye-watering salary and signing-on fee

As reported by Sky Sports, PSG have offered Mbappe a £4million-a-month salary to secure his signature, as well as a staggering £100m signing-on fee. Related links:

• PSG offer Kylian Mbappe ‘complete control’ of sporting project with insane contract offer
• Kylian Mbappe shirts temporarily removed from PSG and Nike stores
• Real Madrid unveil new home shirt featuring iconic retro numbers