The French Football League (LFP) has confirmed that Real Madrid have rejected a bid from Paris Saint-Germain (PSG) for Kylian Mbappe.
The report states that the Ligue 1 giants were willing to offer €150 million ($168m) for the French forward, but Real Madrid have refused the deal.
Mbappe is currently under contract with Real Madrid until June 2022 and has made it clear that he wants to stay in Spain.
The 22-year-old has scored 94 goals and provided 77 assists in just over 150 appearances for the La Liga champions.
He also won the FIFA World Player of the Year award in 2018 and was named as the best player in Europe by UEFA in 2019.
However, the news comes after Real Madrid announced on Wednesday that they had signed former Barcelona defender Sergio Ramos from the Spanish giants.
Ramos, who previously played for PSG, will join the club on a free transfer this summer.
The move could be seen as a statement of intent from Real Madrid, as they look to strengthen their squad ahead of next season's Champions League campaign.
It remains to be seen whether Mbappe will be able to negotiate a new deal with Real Madrid or if he will seek a move away from the Spanish capital.
In any case, Mbappe's future is likely to remain one of the biggest talking points in European football for the foreseeable future.