French striker Kylian Mbappe signed a contract with Real Madrid till 2029, Spanish daily Marca reported on Monday.
Mbappe will leave Ligue 1 club Paris Saint-Germain at the end of the season.
"In negotiations there were disagreements over image rights but Real Madrid managed to get an agreement with Kylian Mbappe on terms lower than the 2022 offer based on Florentino Perez’s instructions. For the club it was essential not to blow up their wage structure,” Marca added.
Last week, Mbappe had informed Nasser Al Khelaifi, the president of PSG, that he will leave the club after the end of the season as a free agent.
As per renowned journalist Fabrizio Romano, the terms of the departure are yet to be fully agreed upon. PSG and Mbappe will communicate together about the latter's exit in the upcoming months.
Mbappe has been a long-standing target for Real Madrid in recent years, but a move to the Santiago Bernabeu has yet to materialise.
However, recent reports from multiple news outlets suggested that Mbappe is edging closer to resolving the transfer saga by opting to join Los Blancos on a free transfer when his contract expires at the end of the season.
Meanwhile, La Liga president Javier Tebas recently suggested that there is more than a 50% chance of Mbappe joining Real Madrid this summer.
Mbappe joined the Parisian side in 2017 from Monaco, initially on a loan deal, before signing a contract extension in 2021.
Before leaving PSG, Mbappe aims to add league and Champions League double to his accomplishments under manager Luis Enrique.
The 25-year-old has enjoyed another exceptional season for PSG, scoring 32 goals and providing seven assists in 31 appearances across all competitions in the 2023-24 campaign.
In Ligue 1 alone, Mbappe has netted 21 goals and contributed four assists in 20 outings this season, along with four goals in seven Champions League appearances.
