Real are long-time admirers of PSG forward Mbappe and made a world-record £170m bid for him two years ago.
Real Madrid have set their sights on signing Paris Saint-Germain superstar Kylian Mbappe alongside their promising pursuit of Jude Bellingham.
Real remain in talks with the English teenage midfielder over a deal which is set to cost in excess of £120million as Borussia Dortmund attempt to recoup the highest fee possible.
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While that kind of significant outlay would be enough for most elite clubs in a single transfer window, chiefs at the Bernabeu have bigger plans and want to build the next 'Galacticos' team with Mbappe and Bellingham as the poster boys.
Real are long-time admirers of the PSG forward and made a world-record £170m bid for him two years ago.
Meanwhile, PSG President Nasser Al-Khelaifi and co want to build a new team around Mbappe, with Lionel Messi set to leave in the summer.
The French forward has, however, vehemently disagreed with some of the club's recent decisions.
In April, Mbappe publicly criticised PSG for using his image too prominently in their promotional material for season tickets.
"I disagree with this posted video," the France international declared. "It is certainly not Kylian Saint-Germain."
The two will undoubtedly be expensive, but Real look like they are ready to break the bank and build a new team around the duo.
Real's squad is due for some freshening up, with players like Luka Modric, Karim Benzema and Toni Kroos all in the evenings of their careers.
A 24-year-old Mbappe and a 19-year-old Bellingham will come off as a good investment.