Saudi football club approaches PSG with record €300mn bid for Mbappé

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Saudi football club Al Hilal has approached Qatar-owned Paris Saint-Germain with a €300mn bid to buy out Kylian Mbappé, a record-breaking offer for the French forward who has been locked in a row with his club over his contract.

Al Hilal, which is owned by Saudi Arabia’s sovereign wealth fund, made the offer in a letter sent to PSG on July 22, and requested to enter talks with Mbappé, according to a person with direct knowledge of the approach. Another person briefed on the matter said the bid was preliminary.

The approach has emerged amid increasing tensions between PSG and its star player. The French club, owned by state-backed Qatar Sports Investments since 2011, is seeking to cash in a big transfer fee before his contract expires next year, according to a person close to PSG. Mbappé has signalled he is willing to wait for his contract to end, which would deny PSG the possibility to negotiate such a fee.

PSG bought Mbappé from AS Monaco for €180mn in 2018, a year after acquiring Brazilian forward Neymar from FC Barcelona for €222mn, to date the two biggest transfers in the history of football. The 24-year-old French footballer, who grew up in a suburb north-east of Paris, is one of the sport’s most valuable players, scoring a hat-trick in the final of the Fifa World Cup in Qatar against Argentina last year.

The approach highlights Riyadh’s disruptive ambitions in sport, from football and golf to motorsport. However, Mbappé is expected to command interest from top European clubs, including those in the Premier League.

Last summer, he turned down the opportunity to join Real Madrid and decided to remain in his home country. PSG suspects he has a deal in principle to join the Spanish club once his contract expires, according to a person close to the Paris club. Relieving his future club from its obligation to pay a fee to PSG, Mbappé would potentially be able to negotiate a more lucrative deal for himself.

Saudi Arabia is using sport to build its profile on the world stage and establish itself as a tourism hub. Domestically, the strategy is part of a series of economic and social reforms spearheaded by Crown Prince Mohammed bin Salman. Under the chairmanship of the Saudi leader, the Public Investment Fund last month took ownership of Al Hilal rival Saudi Pro League teams Al Ittihad, Al Ahli, and Al Nassr.

The Saudi clubs have snapped up more star footballers since Al Nassr struck a deal with Cristiano Ronaldo in December. Al Ittihad secured the transfers of French stars N’Golo Kanté and Karim Benzema; Brazilian Roberto Firmino left Liverpool for Al Ahli, and Portugal player Rúben Neves left Premier League side Wolverhampton Wanderers for Al Hilal.

PIF referred a request for comment to Al Hilal. Mbappé did not respond to a request for comment. PSG declined to comment. Al Hilal could not be reached immediately for a comment, nor could Real Madrid.

Additional reporting by Samer Al-Atrush in Dubai