Off contract in June, Mbappe is expected to eventually join Real Madrid.
Wenger, now working for FIFA, opined: "Time plays against PSG. When you're in a situation like this, the longer it lasts, the more difficult it is to close it. I've been waiting a year and a half for PSG to renew Mbappé.
"He is the most indispensable player they have for PSG's way of playing, but there is little time left and today the player is free to sign with whoever he wants.
"They had a firm offer from Real Madrid. When you turn down 180 million ... even for PSG it's still a huge sum. When they turned down this money, I think they told themselves: 'We have to have a great season, we have Messi and we can't afford to lose Mbappé , we'll manage to convince him to stay'."
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