PSG is bracing itself for what it deems an “insulting” offer from Real Madrid for their prized forward Kylian Mbappe, reported by goal.com. With the deadline to extend his contract quickly approaching, the French club is anticipating a last-minute bid from the Spanish giants.

As reported by RMC Sport, PSG President Nasser Al-Khelaifi issued an ultimatum to the 24-year-old star, urging him to trigger the option to extend his contract by the end of July. Failure to do so would leave PSG with no choice but to consider selling Mbappe during the summer transfer window.

While several other top clubs have shown interest in signing the Frenchman, including Chelsea and Liverpool, Real Madrid remains the most likely candidate to secure his signature. Mbappe himself has expressed a keen interest in joining the Spanish powerhouse.

However, the situation has put PSG in a precarious position, with time rapidly running out to secure a significant transfer fee for Mbappe. They now face the prospect of accepting a reduced offer to avoid losing him on a free transfer next year.

The urgency to sell has intensified after an eye-popping world-record offer of €300 million ($332 million) from Al-Hilal was made for the forward just days ago. While this offer was staggering, it is unclear if any subsequent bids from other clubs will match PSG's valuation.

As the clock ticks down, PSG is aware that they may need to negotiate a deal below their desired price if they wish to avoid losing Kylian Mbappe without compensation. The situation has made the upcoming days crucial for both PSG and Real Madrid as they seek a resolution that satisfies all parties involved.