Kylian Mbappe thought he had equalised but the goal was disallowed for a marginal offside
Kylian Mbappe in action for PSG AFP News

The fate of Paris Saint-Germain forward Kylian Mbappe still hangs in a balance. While it was earlier believed that he would settle down for a significant amount of time after extending his contract with the Ligue 1 champions, the opposite happened. Transfer rumours never stopped following him, and this summer is no exception. Despite still having a contract with PSG and an option to extend, rumours have been rife that he could see the exit door in the ongoing transfer window.

While these rumours have been around for months, what makes it more interesting is the confirmation from PSG that they have given Mbappe an ultimatum about his contract extension. In not so many words, he needs to take up the option to extend his current deal by another year or seek employment elsewhere. Before we head into the nitty-gritty of this so-called ultimatum, what do we know so far?

Details of Mbappe's current contract

In the summer of 2022, many believed that Mbappe was prepared to leave Paris Saint-Germain to finally fulfil his dream of joining Real Madrid. However, he left the football world in shock after suddenly making a U-turn to sign a two-year extension with the French champions.

Nasser Al-Khelaifi, Kylian Mbappe
Kylian Mbappe poses with PSG president Nasser Al-Khelaifi after announcing he is staying at the club until 2025 AFP / Anne-Christine POUJOULAT

Mbappe was presented to the PSG fans at the Parc des Princes as he held up a PSG shirt bearing the numbers 2025. However, his actual contract only guarantees his stay until the end of the 2023-24 season. Beyond that, the player has the option to extend for another year, and the clincher is that he needs to make this decision by this summer.

Mbappe has decided not to take up the option to extend

Last month, Mbappe confirmed that he has informed PSG management that he is not planning on taking up the option to extend. This means that he can already sign a pre-contract agreement with any club as early as January next year.

Despite saying that he won't sign an extension, Mbappe also made it clear that he is happy to play out the remaining year left in his contract. This means that he has another full season with PSG before he leaves on a free transfer in the summer of 2024.

Everyone knows that his preferred destination is Real Madrid. The Spanish giants were left smarting after the snub last summer, but the Frenchman has continued to perform well on the pitch and it is hard for Los Blancos to turn their backs on a player that has much to offer.

They were prepared to wait until 2024 to sign the Frenchman on a free transfer, but the sudden departure of star striker Karim Benzema to Saudi Arabia has stirred things up at the Santiago Bernabeu. Real Madrid were happy to let Benzema take the lead in front, but now that he has gone off to pastures new, the Mbappe deal looks more urgent than ever.

If the player indeed becomes available, Real Madrid president Florentino Perez may very well be prepared to whip out his cheque book in the coming weeks.

Paris Saint-Germain confirm ultimatum

PSG chairman Nasser Al Khelaifi is not pleased with the developments, especially after successfully convincing Mbappe to extend last year. The departure of Lionel Messi makes it clear that the sporting project is set to be built around Mbappe, but that could not happen if he leaves at the end of next season. Neymar Jr. is still in the squad, but his constant injuries have hindered him from taking up the lead role in the PSG front line.

Al Khelaifi has spoken up during the press conference announcing the appointment of Luis Enrique. While the rumours have been around for weeks, the ultimatum is now very clear straight out of the horse's mouth so to speak. "Kylian Mbappe has to decide next week or in two weeks. No more than this. If he does not want to sign a new contract, the door is open. No one is bigger than the club, no player, not even me. It's very clear," said Al Khelaifi.

He also added that he was disappointed to hear that the player intended to leave for free when his contract expires. Needless to say, PSG will do anything to prevent that from happening, including letting him go now.

This does not guarantee that the Real Madrid deal will come to fruition, with PSG intent on cashing in handsomely if Mbappe is sold. Of course, Los Blancos can well afford to splash the cash, but there will be some restraint after having already spent on Jude Bellingham among others this summer.

The saga is expected to drag on until the closing stages of the transfer window, and it remains to be seen if Mbappe will finally see his dream come true.