When talking about Mbappe, PSG, and Real Madrid, it will become an endless drama. Even though the relationship between Mbappe and PSG had heated up, it seems that PSG have begun to soften because they still need Mbappe and they still have hope to extend Mbappe's contract.
If this were to happen, then Real Madrid would be disappointed for the second time because they have high hopes that Mbappe will join them next season as a free agent. I think Real Madrid will have to move fast if they want to sign Mbappe because it's possible that Mbappe will change his mind once again.
Referring to rumors circulating, if Mbappe has a new contract agreement with PSG. that's why, he is back in the PSG squad and will certainly play for PSG against Toulouse. IMO, Madrid should have entered when PSG included Mbappe on the sale list in this summer's transfer window. even if Madrid are willing to negotiate with PSG for Mbappe, I'm pretty sure PSG will let Mbappe go far below the price they were targeting. Madrid can negotiate a win-win solution, and they brought Mbappe to the Santiago Bernabeu. Unfortunately, the president of Real Madrid did not respond, he even said that he would not sign another striker after Joselu.
Which in the end, Mbappe suddenly changed his mind and returned to the PSG squad under Luis Enrique. now, the transfer window is nearing its end and it seems too late for Madrid to bring him to the Santiago Bernabeu. if, in the end, Madrid wants to get Mbappe in the summer. that means, they won't get it as a free agent. Like it or not, Madrid had to pour out funds to get it. because rumors are circulating that now Mbappe has agreed on a new agreement, Mbappe can leave in the summer. however, a team that wants his services must spend a budget according to the price PSG wants.