Kylian Mbappe is expected to be announced by Real Madrid this week and receive a signing-on bonus of just over £85m (€100m).
The 25-year-old, who scored 256 goals in 308 appearances for PSG, is set to sign a five-year contract at the Santiago Bernabeu worth (£12.8m) (€15m) a year after tax.
Real will pay the signing-on bonus in installments throughout his time at the club.
Real Madrid have been long-term admirers of Mbappe, having tried to sign him in 2022, but the French forward committed to a new two-year deal at the Parc des Princes, which has now expired.
Mbappe refused to activate a one-year extension in his PSG contract, which has allowed him to move for nothing, just six years after costing the French club £166m.
The World Cup winner has taken a pay cut to move to the Santiago Bernabeu. Mbappe was on €75m (£63.9m) gross in the final year of his PSG contract, and was also getting a €30m-a-year (£25.6m) signing-on bonus.
Mbappe’s departure has freed up at least €220m (£187.5m) of gross cost to PSG.
The view from Spain: Mbappe to Real was inevitable
Spanish football journalist Semra Hunter to Sky Sports News:
“There’s a bit of a collective sigh of relief that finally it’s over. They are finally coming together and hopefully it will be a harmonious union between Mbappe and Real Madrid.
“This saga has rumbled on for so long now that every single summer it was all about: ‘Here we go again, is this finally the summer he is going to come?’
“Everybody knew it was inevitable that Mbappe was coming to Real Madrid. It was just a matter of when.
“Real Madrid have been trying for so many years, it even began when he was 11 years old when he went to the club for a trial with the Under-12s side. He decided not to stay because his parents felt he was better off staying in France to grow and develop.
“In 2017, that was the real first time they came in for him when he was at Monaco. It didn’t work out as PSG came in and hijacked the deal. It’s been on and off again for the last seven years. It really is happening this time.
“But there is also a little bit of apprehension about this deal because it was such a big blow in 2022 when Real really thought he was coming but he decided to snub them and stay in Paris. It left a lot of Madridistas very broken-hearted disappointed and angry – even people at the club as well.”
Where will Mbappe fit in the Real Madrid team?
Spanish football journalist Semra Hunter to Sky Sports News:
“Ultimately it will depend on what Carlo Ancelotti wants to do from a tactical point of view.
“Yes, there is a pecking order of sorts but of course you are going to go with the best players that you have available too.
“Let’s work under the premise that Ancelotti is going to stick with a 4-4-2 next season, with Jude Bellingham at the top of the midfield diamond, though really Bellingham can do whatever he wants on the pitch.
“That means Vinicius and Mbappe can start in a two-pronged attack, like what Vinicius and Rodrygo have been doing this season. Vinicius has really made the left hand side his. That is his best position. Rodrygo is more tactically flexible – he can play on the right, left or as a No 10.
“So there are lots of options. He could play 4-3-3 with Mbappe in the middle with Vinicius and Rodrygo on the wings. But that means he would have to sacrifice a midfielder and they are so stacked in that area, I don’t see that happening too often.”
The 2024 summer transfer window in the Premier League officially opens on Friday June 14 – the same day that Euro 2024 starts.
The window will close on August 30 at 11pm UK time.
The Premier League has brought forward Deadline Day to link up with the other major leagues in Europe. The closing dates were set following discussions with the leagues in England, Germany, Italy, Spain and France.