Kylian Mbappé has officially joined Real Madrid on a five-year deal, set to commence on July 1, 2024, after his contract with Paris Saint-Germain (PSG) expires. The 25-year-old French forward agreed to a significant pay cut to facilitate the move, reducing his annual salary from €25 million net to between €15 million and €20 million net, with annual increments. Despite this, Mbappé will receive a substantial signing-on fee reported to be €125 million, distributed over the five years of his contract, and retains 80% of his image rights—a departure from the club's standard practice of a 50-50 split.
Real Madrid confirmed the transfer on Monday, June 3, 2024, two days after clinching their 15th European Cup by defeating Borussia Dortmund. The acquisition of Mbappé ends a seven-year pursuit by Real Madrid and adds him to a roster that includes notable players such as Vinícius Júnior, Jude Bellingham, Rodrygo, and incoming Brazilian forward Endrick.
Mbappé, who scored 256 goals in 308 appearances for PSG, is expected to inherit the No. 9 jersey at Real Madrid and eventually move to the No. 10 shirt following Luka Modric’s departure. His acquisition is seen as a strategic move to bolster Real Madrid's chances of maintaining their dominance in European football for years to come.