PSG have already spent 250 million euros this summer leaving them at FFP risk

Paris Saint-Germain have spent 250 million euros on transfer fees, wages and renewals this summer but have still yet to secure Kylian Mbappe to a new contract, and there is a potential for UEFA's FFP rules to leave them at risk.

I don't there is anyone naïve enough to expect PSG to sell Mbappe merely to conform with FFP regulations, especially when you consider how they've skilfully slalomed their way out of punishments in the past, alongside Manchester City, but there is a very real possibility that fiscal sense may take precedence in the case of Mbappe.

Why won't he re-sign?

There hasn't been confirmation that Mbappe definitely won't re-sign in Paris, but the fact he is waiting this long suggests he plans to leave, especially given his dream of playing for Real Madrid.

Despite tenuous links with Liverpool, leading the Anfield club to make an enquiry over the French international's availability this summer, there is very much a sense that it is Los Blancos or nothing for Mbappe.

Nasser Al-Khelaifi made the bold move of claiming it would be impossible for the former Monaco star to leave the French capital on a Bosman deal, although it's unclear whether that was just posturing or he genuinely doesn't know the Bosman ruling.

On the topic of the Bosman ruling, Mbappe himself may well be seen as something of a trendsetter, especially with football set to enter a new era of transfer strategy in the wake of a global pandemic.

Mbappe will be 23 when his contract expires in June 2022, he has won every trophy on offer to him aside from the Champions League, already having a career most would be envious of.

He scored in a winning effort in a World Cup final, and he is at a point in his career where he doesn't need to focus on team success.

He can afford to take the risk of betting on himself and leaving for nothing, the money isn't an issue for him and he won't be risking not winning trophies in his career.

Clubs that are virtually state-backed in the way Manchester City and PSG are have a damaging impact on the market.

They never have any fiscal pressure to sell players, so whilst you're under contract there, you simply are stuck. This is what makes Mbappe's stance so brave, and one which players after him will undoubtedly copy.

Are PSG contemplating a sale?

FFP won't make PSG consider selling Mbappe this summer, and whilst it's unlikely that will happen, there are factors which could change the French club's mind.

In spending 250 million euros already this summer, there is a need to recoup resources, not to fit in with rules, but just for the club's business to make fiscal sense.

Very few businesses will write off an asset they paid 180 million euros for, and losing Mbappe for nothing on the eve of the 2022 Qatar World Cup would be hugely embarrassing for the powers that be at the Parc des Princes.

It would be a real slap in the face to Qatar's legitimacy if Mbappe was to reject their pet-project in the French capital so publicly and spectacularly, especially given the fact he was born in Paris. It wouldn't say a lot for PSG's standing if they can't even prevent a local player from walking out of the exit door.

For regimes like those in charge in Paris and Manchester, image is everything. It perhaps even eclipses the joy and importance of winning. They have no interest in making money from owning a football club, they want to promote themselves or their state.

This is why control is so important. It would be far easier to control the narrative of Mbappe's likely exit if they sell him this summer than it would be should he leave for nothing in 2022.

It would also be very convenient for the club to point towards FFP regulations as a reason for this move, again putting themselves above criticism, and actually painting the picture of a club following the rules... for once.

Finally, this would also be much easier to defend if PSG then make a substantial signing after a possible Mbappe sale, which could come in the form of Paul Pogba, with PSG interested in him this summer and United still yet to secure a contract extension with the former Juventus star.

Where do Real Madrid fit in?

Real Madrid hadn't planned any major business this summer, such is the concern over club finances within Florentino Perez's office. Mbappe suddenly being put on the market would hit through the heart of Los Blancos' technical department like a bolt of lightning.

The club has been laying the groundwork for Mbappe's arrival on a Bosman in 2022, freeing up significant salary room with the departure of Sergio Ramos, as well as the continued plan to sell valuable younger players.

It's difficult to imagine Real Madrid suddenly finding the money to pay for Mbappe this summer, even if he is put up for sale, which complicates the situation, especially if the player really does only want to sign for Los Merengues.