Real Madrid have launched a €160 million ($188 million) offer to sign Kylian Mbappe which has been immediately rejected by Paris Saint-Germain.

Real Madrid hopes to convince PSG to agree to a deal before the transfer window ends on August 31st. Real Madrid may need to raise their offer to $235 million to have a chance at completing the signing. 

Mbappe's contract at PSG expires next summer and has made it clear he does not intend to renew. PSG had hoped the arrival of Lionel Messi would lead Mbappe to reconsider but that has not transpired. 

Mbappe has been Madrid president Florentino Perez's long-term No. 1 target, and the club have known for months that the forward was keen to finally make the move.