Hours after Paris Saint-Germain snubbed their first bid, Real Madrid have officially submitted a second bid of 170 million euros plus 10 million euros in add ons for French forward Kylian Mbappe on Wednesday, according to media reports.

While there are no reports if PSG are considering accepting the offer yet, Mbappe has rejected at least three different proposals from PSG to renew his contract and is waiting for a move to the Santiago Bernabeu, according to Sky Sports reports.

PSG signed Mbappe from Monaco in 2018 for 180 million euros but in actual fact, they have so far paid only 145 million euros to the Ligue 1 side for the France international so far and will have to pay the rest when his current contract expires in June 2022. PSG are at risk of losing one of football's hottest prospects for free next summer. 

The 22-year-old has so far refused to agree to a contract extension at the Parc des Princes and has told PSG it is his dream to play for Real Madrid.

Earlier on Wednesday, PSG sporting director Leonardo told French broadcaster RMC Sport that the initial offer Madrid had made was below PSG's expectations. He said that Kylian Mbappé wants to leave and PSG won't stop him, but a deal will only be made on the club's terms.

"Kylian Mbappé wants to leave, that seems clear to me. If Real Madrid makes an offer, that seems clear. I am giving a position which, I think, is clear for everyone. We can't, in the last week of the transfer window, change our plans. If he wants to leave, we aren't going to keep him, but it's under our conditions," Leonardo said.

Surprisingly, this was the first time the Parisian club said that Mbappé wants to leave. Until now, the club had maintained that the player was not up for sale and that they wanted to extend his contract. 

However, the Qatar-backed club are known to have friendly relations with Madrid and with President Florentino Perez personally involved in the negotiations, the record Spanish champions are confident of forcing the move through before August 31's transfer deadline, according to Spanish media.

Despite Madrid's financial troubles because of the COVID-19 pandemic, they feel they are in a position to sign Mbappe. They have recently offloaded a number of players, including selling Raphael Varane to Manchester United for approximately 47 million euros, and Martin Odegaard to Arsenal for approximately 35 million euros, among others. 

Mbappe was thought to have been willing to stay at PSG for at least another year, given the influx of stars at Paris over the summer. 

PSG have signed Lionel Messi, Sergio Ramos, Gianluigi Donnarumma and Georginio Wijnaldum for free while paying €60 million in exchange for Borussia Dortmund's Achraf Hakimi - having had what is being considered the single-best transfer window ever. 

These arrivals were also meant to convince Mbappe to stay at Parc des Princes, with the French international also reportedly looking forward to playing with Barcelona great Messi. 

However, Mbappe seems set for a switch from the French capital to the Spanish, signalling he is ready to be the poster boy and torchbearer at the biggest club in the world.