Al-Hilal have submitted a formal bid of €300 million ($332 million) for Paris Saint-Germain star Kylian Mbappe according to transfer market expert Fabrizio Romano.

If accepted, and Mbappe agrees terms with the Saudi Pro League giants, the potential deal would obliterate the world's transfer record for a football player.

PSG last set the record themselves when triggering Neymar's €222 million ($246 million) release clause at FC Barcelona in 2017.

Mbappe joined the Ligue 1 champions in the same summer, but this had to be done via a temporary loan to navigate Financial Fair Play limits because of the enormous fee that had been handed over to the Catalans for the Brazilian.

A year later, Mbappe joined the Qatari-owned Parisians permanently in Monaco in a €145 million plus €35 million in add-ons arrangement that made him the world's most expensive teenager.

Six years on, Mbappe looks set to flee the Parc des Princes for not heeding an ultimatum to renew his contract.

Mbappe signed an extension in spring 2022, but has thus far failed to exercise an additional, optional 12 months that would tie him down until June 2025.

He has told his club in a letter that he will leave in June 2024, and Friday saw several outlets report that PSG have put him up for sale after dropping the Russia 2018 World Cup winner from a preseason tour of Japan.

When reporting this news, The Athletic added that clubs from Saudi Arabia were interested in Mbappe and would be prepared to smash the world transfer record to bring him to the Saudi Pro League.

Foot Mercato also reported that the Saudi government, which through the Public Investment Fund now has control of four of the domestic championship's top four clubs, was preparing to make Mbappe a huge offer.

And now, at the turn of the week, Romano has come forward with an exclusive detailing how Al-Hilal have submitted a formal bid to PSG to open talks for Mbappe which he understands to contain a €300 million world record fee.

Romano explains that there are so far no talks on the player's side, and that PSG remain convinced Mbappe has already agreed terms with Real Madrid and has a contract ready.

This probably entails him heading to the Spanish capital on a free transfer in 2024, and would see Mbappe earn a huge loyalty bonus at PSG plus a monstrous signing-on fee from Los Blancos.

PSG could confine Mbappe to the stands and freeze him out of head coach Luis Enrique's plans as punishment for not renewing, which could make the Saudi move interesting for the forward so as not to miss out on playing ahead of Euro 2024 and the Paris 2024 Olympics for his country.