Kylian Mbappe has informed both PSG and Real Madrid that he will stay at the Parc des Princes this summer.
The 23-year-old's contract expires next month and Los Blancos had been confident of securing him on a free transfer after their bid to sign the forward last summer was knocked back.
However, optimism within PSG has grown in recent days that he would spurn Real Madrid's advances and commit his future to the French champions, and it's now being widely reported that Mbappe has informed both clubs that he will sign a new contract with his current side.
Mbappe had agreed personal terms with both clubs and his mother confirmed on Friday that he was now deliberating over a decision, revealing a further incentive to sign for Real Madrid.
Listen now to 90min's brand new podcast, Talking Transfers, with Scott Saunders, Graeme Bailey & Toby Cudworth. On this week's episode the trio discuss Cristiano Ronaldo's future at Manchester United, Kylian Mbappe's impending move to Real Madrid, Robert Lewandowski, Raphinha and Steven Gerrard's desire to reunite with Luis Suarez at Aston Villa.
"We will not have new meetings to discuss Mbappe's future, these meetings are now over," she told KoraPlus.
"Now we have found an agreement with both Real Madrid and PSG and the discussions are over because it is Kylian who has to choose now.
"The two offers, that of PSG and Real, are almost identical. At Real, my son will have control of his image rights! We will now await his decision.
"In the Real Madrid offer we have full power of image rights, on the other hand there is an economic balance that rewards this thing, in short there is no difference between the two are similar."
However, despite their best efforts, it appears the Spanish champions will have to make do without Mbappe next season.
More to follow...