Real Madrid are working to improve their squad ahead of a vital season. Los Blancos missed out on the league and UEFA Champions League last campaign.
Meanwhile, Paris Saint-Germain believe Kylian Mbappe has already agreed to join the La Liga giants next summer. Elsewhere, Xabi Alonso is the favourite to replace current boss Carlo Ancelotti at the Santiago Bernabeu in 2024.
On that note, here's a look at the key Real Madrid transfer stories as on July 8, 2023:
PSG are worried that Kylian Mbappe has already agreed to join Real Madrid, according to Sky Sports.
The French forward's contract with the Ligue 1 champions expires at the end of next season, and he has an option to extend the deal by a further year. However, the 24-year-old has already informed the Parisians that he will not exercise the one-year clause.
Los Blancos are long-term admirers of Mbappe and are believed to be the player's next destination. The La Liga giants were previously planning to sign the player on a Bosman move next summer. However, they are not averse to securing his services on a blockbuster deal this year.
PSG remain keen to keep their star player at the Parc des Princes but are willing to cash in on him if the Frenchman continues to stall an extension. However, the Parisians also believe that Mbappe might have already agreed to move to the Santiago Bernabeu as a free agent next summer.
Xavi Alonso is leading the race to replace Ancelotti at Real Madrid in the summer of 2024, according to journalist Christian Falk.
The Italian manager's contract with the La Liga giants runs out at the end of next season. Ancelotti has reportedly agreed to take charge of the Brazil national team in June 2024.
Alonso has done a splendid job since taking charge
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