Mbappe only has a year left to run on his contract at French side Paris Saint-Germain as things stand and there is no indication that he will sign fresh terms at the Parc des Princes.
The 24-year-old moved to PSG in 2017 for €180 million from Monaco, and has gone on to score 217 goals in 263 games for the Parisian side.
He has also won both the World Cup and UEFA Nations League with the French national team, with 40 goals in 71 games for Les Bleus.
Mbappe's future is a hot topic and there have been reports this summer of approaches from Saudi Arabia in a bid to lure the superstar and join the many players who have left Europe's top leagues for the Middle East.
Real Madrid have been active in the transfer market this summer, but in terms of a big money signing opted to bring in England international Jude Bellingham to the Spanish capital for an initial €103 million from Borussia Dortmund.
And if Mbappe does not pen fresh terms at the Parc des Princes, then there is a chance that Mbappe would be able to move to Real, or anywhere for that matter, on a free transfer next summer when his PSG deal expires.
Man City's Julian Alvarez.
But Real are not banking on Mbappe heading to the Santiago Bernabeu as a formality, and have drawn up other options for their striking department if the France international does not move to Los Blancos.
According to Fichajes, Manchester City forward Julian Alvarez is among the options Real have highlighted as potential back-ups if the move for Mbappe does not come to fruition.
Alvarez has 19 goals in 55 games for City and won the Treble in his first season at Pep Guardiola's side, but tends to be second choice behind talisman Erling Haaland in the striker pecking order at the Etihad Stadium.
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