Real Madrid have seen a €160 million bid to sign Kylian Mbappe rejected by Paris Saint-Germain, according to ESPN.
The negotiations are expected to be difficult, but Real feel they can convince PSG to agree a deal before the transfer window ends on August 31.
Other sources claim the LaLiga club would need to raise the offer to €200m to have a chance of completing the signing.
Mbappe’s contract at PSG expires next summer and the 22-year-old has made it clear that, despite repeated approaches from the club, he does not intend to renew.
PSG believed that the arrival of Lionel Messi could change Mbappe’s mind, but that has not transpired.
ESPN reported last September that Madrid were laying the groundwork for a move for Mbappe this summer but were treading carefully to avoid angering PSG.