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Al-Hilal have offered Kylian Mbappe a sensational £173.2m-per-year (€200m) deal to join the club.
Mbappe, 24, is currently in a high-profile contract stand-off with PSG and was left out of their pre-season tour of Japan and South Korea.
The striker is contracted to the French giants until the summer of 2024 but he has so far refused to sign an extension in Paris.
This has led PSG’s owners insisting he must be sold if he cannot agree a new deal, with the club willing to accept less than the £155m they paid Monaco to sign him in 2017 to avoid losing him for nothing.
And Al-Hilal, one of the four Saudi Pro League clubs owned by the Public Investment Fund have made a mega-money offer to sign him.
He claims they’ve offered the player €200m (£173.2m) per-year on a two-year deal, which could include a release clause after the first year solely reserved to Real Madrid.
They would pay a €200m (£173.2m) transfer fee to PSG as well, which would likely satisfy the Parisians’ demands to let him go.
Mbappe – who is prepared to sit out the season to force through a move to Real on a free transfer next summer – is thought to have reservations about moving to Saudi Arabia but if Los Blancos are unable to pay a fee this year, the offer from Al-Hilal could provide a solution for all parties.
He has been long linked with Real, but opted to sign a new contract worth £650,000-per-week with PSG rather than join them last summer.
Since then, things have been negative in Paris, with the Frenchman speaking out against the hierarchy, and threatening to walk away for free upon the expiry of his contract.
Mbappe has no concerns about missing the entire season, even though he is France captain and would want to maintain his fitness running into Euro 2024 next summer.
However, PSG chairman Nasser Al-Khelaifi recently insisted it would be ‘impossible’ for Mbappe to leave for free.
He said: ‘We want him to stay but he can’t leave for free. There was a verbal agreement and he had discussed it in an interview. And I was really shocked to learn that he had decided to leave for free.
‘It’s very disappointing because Mbappe is a fantastic boy, a real gentleman and to leave for free, weakening the biggest club in France, it’s not him.
‘When I heard the news, I was shocked and disappointed.
‘It’s for him to decide for himself next week, or at most in the next two weeks. And if he does not want to sign a new contract, the door is open.
‘It’s like that for him and everyone else. Nobody is bigger than the club, no player, not even me. It’s very clear.’
PSG’s Ligue 1 campaign gets underway next month with a home fixture against Lorient.
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