Kylian Mbappe has decided to stay at Paris Saint-Germain instead of joining Real Madrid.
On Saturday, before PSG's season-ending game against Metz, Mbappe was paraded on the pitch at the Parc des Princes with a '2025' shirt. He is signing a new three-year deal.
Real Madrid were widely expected to sign Mbappe as a free agent following the expiration of his contract.
However, PSG were determined to keep the 23-year-old forward – who has been in sensational form this season – and they now have won that battle.
"I am convinced that here I can continue to grow at a club that provides everything necessary to perform at the highest level," the France forward said in a statement.
"I am also delighted to continue to play in France, the country where I was born, where I have grown up and where I have made my name."
Earlier this week the pendulum seemed to have swung firmly in Madrid's direction, with reports suggesting talks between Mbappe and PSG's Qatari owners had not swayed the striker, and that he wanted to join Los Blancos.
Mbappe's mother and agent confirmed on Friday that agreements had been reached with both clubs and a decision would be made over the weekend.
A blow to Madrid
Mbappe is the club's second-highest goalscorer in their history, behind Edinson Cavani, having overtaken Zlatan Ibrahimovic when he netted for the 157th time in a PSG shirt earlier this season.
The news will come as a blow to Madrid, who face Liverpool in the Champions League final next weekend.
Los Blancos had also been linked with Borussia Dortmund star Erling Haaland, but he has decided to join Manchester City, and it appears as though Madrid president Florentino Perez will be made to wait for his next Galactico.
Spanish LaLiga chief Javier Tebas took a swipe at Paris Saint-Germain president Nasser Al-Khelaifi.
Tebas wrote on Twitter: "What PSG are going to do by renewing Mbappe with large amounts of money (namely where and how they pay him) after giving losses of €700m ($738 million) in recent seasons and having more than €600m of salary bill, is an INSULT to football. Al-Khelaifi is as dangerous as the Super League."