And it is understood Perez sees Mbappe as the final piece in the Bernabeu jigsaw, someone the manager could build the team around for the next decade.
Of course, Mbappe will not come cheap – especially for a side that splashed almost £300million over the summer on the likes of Eden Hazard, Luka Jovic, Ferland Mendy, Rodrygo and Eder Militao.
PSG are expected to demand approximately £260m for arguably the player with the highest market value right now due to his age, track record and trajectory.
And in order to help fund the transfer, Calciomercato reckon Real Madrid could use Bale as a makeweight in a potential deal.
The Welshman, 30, was close to leaving in the summer when Zinedine Zidane said it would be better for everyone if he did.
But with most clubs priced out of a move, China appeared the likeliest destination.
KYLIAN MBAPPE is Real Madrid’s No1 transfer target – and reportedly could offer Gareth Bale as part of a swap deal.
The French striker, 20, is one of the most sought-after players in world football and Real president Florentino Perez is understandably a huge admirer.
Bale, though, stayed put and has started the season in impressive form with two goals and two assists.
However, if he could be used to facilitate a deal for Mbappe, Real Madrid would surely be willing to jump at the chance.
Another player that is reportedly a possibility for a swap deal is James Rodriguez.
Rodriguez, 28, spent two seasons on loan at Bayern Munich but is now back with the Spanish giants, featuring nine times this season, delivering one goal and one assist.
Madrid could also be buoyed in their chase of Mbappe by the strong relationship between Perez and his PSG counterpart Nasser Al-Khelaifi – but the former knows the French champions will not sell easily.
Madrid may well face strong competition from Juventus, though, who have a massive transfer kitty to spend next summer.
Like the Ligue 1 giants, Juventus are desperate to convert their domestic dominance into success in the Champions League – and both sides believe Mbappe could be the man to help them achieve that.
Brazilian legend Rivaldo believes Mbappe needs to join either La Liga or the Premier League so he can rival Cristiano Ronaldo and Lionel Messi as the world’s best player.
Despite Mbappe becoming the youngest ever player to reach 15 Champions League goals with a hat-trick on Tuesday, Rivaldo said: “With all due respect to PSG, I believe he must leave for a Spanish or big English team in the future to confirm himself as the heir to Messi or Ronaldo.
“The best players need to play in the best leagues.
