There were recent reports in France that Real had come to an agreement with PSG over a €272m deal for Mbappe, who recently made his move to the French side permanent following a year-long loan spell.
However, Madrid have now issued a statement in which they deny these rumours:
"Given the information published in the last hours referring to an alleged agreement between Real Madrid CF and PSG by player Kylian Mbappé, Real Madrid says they are flatly false."
July 4, 2018
Mbappe is the second most expensive player of all time, after PSG teammate Neymar, and he is currently out in Russia with France, where he has been in impressive form, scoring three goals for his nation.
The rumours of Madrid interest in the Frenchman have surfaced at a time when Cristiano Ronaldo has been heavily linked with a move to Juventus. Both Mbappe and Neymar have been tipped as Ronaldo's successors, with many expecting Real to make another of their famous 'Galactico' signings.
French journalist Baptiste Ripart was the one to publish the reports of a bid, the same man who correctly predicted Antoine Griezmann's decision to stay at Atletico Madrid, as well as Thomas Lemar's move at the Spanish club.