Real Madrid informed Paris Saint-Germain that they would not be continuing their pursuit of Kylian Mbappe in the final hours of the transfer window, 90min understands, with the French club's chairman Nasser Al-Khelaifi standing firm over not allowing the superstar to leave this summer.
PSG director of football Leonardo had previously admitted that the club wanted to get back the money they paid, and indicated that deal was possible - but that has not been the case.
Some within PSG's hierarchy were keen to get some money back from Mbappe, who they bought from Monaco in 2017 for a deal amounting to €180m - but Al-Khelaifi came to a final decision and he has made it clear that the France international is not leaving.
90min has learned that verbally Real made it known to PSG that they were willing to pay in excess of €200m if it meant that they would do the deal before the end of the window - but having not had a firm reply they stepped back on Tuesday.
Mbappe has been quiet on the whole situation in public, but sources close to the player have confirmed to 90min that he has made it clear to PSG in recent weeks that he will not be signing an extension and he wants to move to the Spanish capital.
Les Parisiens still hold out some hope that playing with Lionel Messi and possibly challenging for a Champions League title could persuade the 22-year-old to sign a new extension, with his current deal due to expire at the end of the season.
As it stands, Mbappe will be able to sign a pre-contract with any club in January. Real Madrid fully intend to make him their player in 2022 and he can commit to them in just four months' time.