Mbappe opts to stay at PSG after snubbing Real interest
Kylian Mbappe has snubbed Real Madrid and signed a new three-year deal with Paris Saint-Germain after months of speculation over his future.
The French superstar, 23, opted against a switch to LaLiga in favour of extending his spell at the Parc des Princes.
It is a bitter blow for Real, who have now missed out on both Erling Haaland and Mbappe this month.
Mbappe said: "I would like to announce I have chosen to extend my contract at PSG — and of course I am delighted.
"I am convinced that here I can continue to grow at a club that provides everything necessary to perform at the highest level.
"I am also delighted to continue to play in France, the country where I was born, where I have grown up and where I have made my name.
"I would like to thank the president, Nasser Al-Khelaïfi, for his trust, his understanding and his patience.
"I would also like to thank all the fans of Paris Saint-Germain, both in France and around the world, for their support, especially in recent months.
"Together, side by side and ambitious, we will make magic in Paris.”
But this evening's news has been met with outrage from Spanish football authorities.
LaLiga are set to complain to UEFA, French tax authorities and the European Union over PSG's "non-compliance with UEFA's financial fair play".
A statement from the Spanish league said: "This type of agreement attacks the economic sustainability of European football, putting at risk hundreds of thousands of jobs and sporting integrity at risk — not only in European competitions, but also in domestic leagues.
"It is scandalous that a club like PSG, which last season reported losses of more than €220million, after accumulating losses of more than €700m in prior seasons (while reporting sponsorship income at a doubtful valuation) with a cost of sports staff around €650m for this 2021-22 season, can face an agreement of these characteristics while those clubs that could accept the arrival of the player without seeing their wage bill compromised, are left without being able to sign him.
"For all of the above, LaLiga will file a complaint against PSG before UEFA, administrative and tax authorities in France and before the competent bodies of the European Union, to continue defending the economic ecosystem of European football and its sustainability."