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Mbappe, 25, is PSG’s all-time top scorer with 256 goals in 308 matches. He has agreed to a five-year contract with Real Madrid, earning €15m (£12.8m) a year after tax. He will also receive a signing-on bonus of over £85m, paid in instalments over his contract period.
The French forward, who won the 2018 World Cup, joins Real Madrid just two days after they won their 15th Champions League title, completing a double with their LaLiga victory.
Real Madrid released a brief statement saying: “Real Madrid CF and Kylian Mbappe have reached an agreement whereby he will be a Real Madrid player for the next five seasons.”
The Spanish club has long admired Mbappe and attempted to sign him in 2022, but he renewed his contract with PSG for two more years. However, he did not extend his contract for an additional year, allowing him to move for free this summer. Mbappe had originally joined PSG from Monaco for £166m in 2017.
His departure from PSG, announced last month, reduces the club’s gross costs by at least €220m (£187.5m).
