Real Madrid is said to have made a £41 million offer for Paris Saint-Germain sensation Kylian Mbappé in January

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In this month’s transfer window, Real Madrid are said to have launched a £42 million approach for Paris Saint-Germain winger Kylian Mbappe.

PSG might lose its French star for free in the summer if the 23-year-contract old’s at the Parc des Princes expires at the end of this season.

Real Madrid 'end transfer pursuit of Kylian Mbappe from PSG' with £154m  striker set to stay with Lionel Messi and Neymar
Mbappé celebrating for PSG

Los Blancos, on the other hand, are desperate to sign Mbappe as soon as possible, and after having a £150 million approach rejected in the summer, they may be able to do it for a considerably lower cost.

According to Marca, football agent Giovanni Branchini alleges that Real Madrid has returned to PSG with a new bid in the area of £42 million, since PSG is under pressure not to lose Mbappe for free at the conclusion of the season.

Florentino Perez is still interested in signing Mbappe, who has previously indicated a desire to play for Real Madrid, and would like to do so before Los Blancos meet PSG in the Champions League last 16 next month.

Mbappe scored 150 goals for PSG last season, including an 18-minute hat-trick against Vannes in the Coupe de France.

Transfer news - Kylian Mbappe says that he asked to leave PSG this summer  amid Real Madrid interest - Eurosport
Mbappé in action for PSG

According to AS, the French team has made their intentions clear: they want to keep Mbappe.

But, with his contract ending next summer and the World Cup winner turning down yet another better deal, PSG managers are getting increasingly concerned that he would not sign an extension.

This would allow Mbappe to sign a free move from January until the conclusion of the season, with PSG receiving no compensation for their £162 million investment in 2018.

Mbappe is a target for Carlo Ancelotti, but a bidding war is expected this summer.

Carlo Ancelotti celebrates his 800 league games, climbing to the top place  after an epic comeback - Carlo Ancelotti
Carlo Ancelotti, Head Coach Real Madrid

Six months ago, a £150 million bid for Mbappe was rejected by Madrid, but he still has six months left on his contract.

With a number of other elite clubs interested in the in-demand ace, Madrid may be anxious to avoid being dragged into a pay package bidding war this summer.

After a slew of proposals were turned down, this month is their last chance to get a deal done before the end of the season.

Mbappe has 18 goals and 13 assists in all competitions this season, confirming his standing as one of the top players in the sport.

PSG will play Lyon in Ligue 1 on Sunday, and the club has not ruled out Mbappe staying until the conclusion of the season.