Kylian Mbappe has rejected a world record contract offer from PSG.
The striker saw the market close last night with Real Madrid frustrated in their attempts to sign him.
In the final week of the transfer window, Real had offers of €160m, €180m and €200m all turned down by PSG.
AS says PSG have since made a contract proposal to Mbappe worth €45m-a-year - net. The deal was for three years. But it has been rejected by the player.
Mbappe comes off contract at PSG in June.