In a succinct announcement on Monday, Real Madrid confirmed the signing of French soccer sensation Kylian Mbappe. The addition of Mbappe, widely regarded as one of the world's best players, bolsters the newly crowned Champions League winners.
"Real Madrid CF and Kylian Mbappé have reached an agreement whereby he will be a Real Madrid player for the next five seasons," the club posted on its website.
This marks the third attempt by Real Madrid to secure Mbappe's services. The club first pursued him in 2017 when he left Monaco for Paris Saint-Germain (PSG) for a transfer fee of €180 million ($196 million), the second-highest fee ever at that time. A second attempt in 2022 also fell through when Mbappe opted to re-sign with PSG.
Mbappe's new five-year contract with Real Madrid is valued at €15 million ($16.4 million) annually after taxes, according to the BBC and ESPN. The contract includes performance-based incentives and a €150 million ($164 million) signing bonus, which will be distributed over the contract's duration.
Although Mbappe's contract with PSG extended through the 2023-24 season with an option for 2024-25, he declined to exercise this option, allowing him to join Real Madrid on a free transfer.
Joining Madrid represents a pay cut for Mbappe, who earned approximately $100 million annually before taxes at PSG, including bonuses. Last summer, Saudi Arabian club Al-Hilal offered PSG €300 million ($327 million) for Mbappe and was prepared to pay him a significant annual salary. However, Mbappe was focused on a move to Madrid.
Mbappe spent seven seasons with PSG in Ligue 1, leading the club to first-place finishes each year. He was the league's top scorer for the past six years and was named player of the year five times. Internationally, he played a pivotal role in France's World Cup victory in 2018, earning the Best Young Player award, and won the Golden Boot at the 2022 World Cup, where France reached the final but lost to Argentina on penalties.
PSG's ambitious efforts to secure a Champions League title included signing superstars Lionel Messi and Neymar. However, the trio's best result was a 2020 Finals appearance. PSG's elimination in the semifinals this year and Mbappe's departure signal the end of the club's significant spending spree, which resulted in a $400 million loss during the 2021-22 season.
Real Madrid's recent Champions League victory was their 15th, more than twice the number won by second-place AC Milan, which has seven titles. Financially, Real Madrid ranks second among the world's most valuable soccer clubs at $6.06 billion, according to Sportico, while PSG ranks seventh at $4.05 billion.
Mbappe's move to Real Madrid is a monumental moment in soccer, as one of the sport's brightest stars joins a club renowned for its success and storied history. Fans worldwide will eagerly anticipate the impact Mbappe will have in the Spanish capital, both on and off the pitch.
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