Mbappe’s decision-making process appears to revolve around evaluating PSG’s project and prospects in the forthcoming months. 

His focus on securing the coveted UEFA Champions League trophy and potentially participating in the 2024 Olympics in the city signifies a vested interest in the club's immediate objectives.

A significant aspect of Mbappe's contractual situation is a legally binding agreement between him and PSG regarding a potential exit without a transfer fee. 

Reports suggest a sum of up to €80m (£69m) that Mbappe would return to the club in case of a departure. However, this figure isn’t merely a loyalty bonus waiver but involves intricate considerations tied to his exit strategy.

PSG will get handsome financial compensation in case Mbappe departs

Despite the uncertainty, PSG remains calm over the situation. They have a comprehensive agreement in place, ensuring financial compensation even if Mbappe departs as a free agent. Sources close to the club assert that PSG won't be left empty-handed if Mbappe chooses to leave at the end of his contract.

There's still a possibility of contract renewal for Mbappe at PSG, with talks potentially extending his stay until 2025. However, a longer-term deal might also serve as a means to safeguard his market value for a future move.

For Real Madrid, the timing of Mbappe's potential transfer holds less significance. Whether it occurs immediately with a transfer fee or as a free agent in the summer, the move will likely involve significant costs, either in terms of a transfer fee to PSG or a substantial signing fee to Mbappe.

As the season progresses, the uncertainty surrounding Mbappe's future continues to captivate football enthusiasts worldwide, while PSG maintains a composed outlook, equipped with a structured agreement to navigate any potential outcomes.