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Reports indicate that Al Hilal, a club in Saudi Arabia, has offered a record $332 million to acquire Kylian Mbappé.

Al Hilal, a soccer club in Saudi Arabia, reportedly offered around $332 million (300 million euros) on Monday to acquire Kylian Mbappé, a striker for Paris Saint-Germain (PSG).

The 24-year-old did not travel to Japan with PSG on its preseason tour because the club gave him until the end of the season to sign a new deal or be sold.

When Neymar went from Barcelona to PSG in 2017, the transfer cost set a new world record of $262 million (€222 million).

Mbappé is rumored to be dissatisfied with life in Paris, while publicly stating his intention to remain with the club through the 2023–24 season.

Mbappé reportedly notified PSG in June that he would not be exercising the club’s third-year contract option, forcing the club to either sell its top player this summer or let him depart for free in 2024.

During a news conference to introduce new head coach Luis Enrique earlier this month, PSG president Nasser Al-Khelaifi detailed the club’s position on the Frenchman’s future.

We have made our position quite clear. We would love it if Kylian Mbappé decided to stay with the team. Al-Khelaifi informed reporters that he must execute a new contract.

We just cannot afford to let the world’s top player walk away from the team for nothing. No way could that happen. He has already stated that he has no intention of voluntarily leaving the French club.

No responsibility falls on us if a customer decides to back out. One of the best players in the world is not going to be able to depart for nothing. It’s crystal clear.

As reported by French news site L’Equipe on Monday, PSG’s owners are willing to accept the deal from Al Hilal, which purportedly includes a $775 million (700 million euro) wage packet for Mbappé, and have given the Saudi club permission to speak with the World Cup champion.

While Paris Saint-Germain is willing to sell the French superstar, Mbappé has the final say on where he plays this season according to his one-year deal and the ability to veto a transfer if it doesn’t satisfy him.

According to reports, Mbappé views Real Madrid as his ideal landing destination if he ever decides to leave Paris, and the Spanish giant has been strongly associated with him ever since they almost signed the French international striker ahead of the 2022/23 season.

Bringing professional soccer to Saudi Arabia would be a huge step toward the country’s goal of developing a strong domestic league.

On August 11th, a new season of the Scottish Premier League will begin. Last year, Al Hilal competed in the finals of the AFC Champions League and the FIFA Club World Cup.

Al Hilal is one of four Saudi clubs that have been turned into corporations and are jointly owned by the Saudi Public Investment Fund (PIF) and the respective clubs’ non-profit foundations, as was disclosed last month.

The PIF is a government-run fund with $650 billion in assets, as per the most recent filing. Its long-term goal is to reach $1 trillion. It’s not unusual for a state to have an investment fund like the PIF. The Sovereign Wealth Fund Institute places it at the lowly seventh-largest position globally.

Some of them, like the PIF, function like a private investment firm, attempting to create money through a broad portfolio of investments, while others are pension funds for residents or public employees of a country.

In contrast to private investment firms, Saudi Arabia’s fund may be viewed as engaging in “sportwashing” if it invests in sports and entertainment companies despite widespread international criticism of the country’s human rights record.

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