Mbappe informed PSG earlier this week that he will be departing the club on a free transfer at the end of June, and Real Madrid are the heavy favourites to secure his signature.
There have also been suggestions of interest from Arsenal, with the World Cup winner thought to be open to the idea of making the move to the Emirates Stadium.
Arteta has said that his club must always be in the picture for players “of that calibre”, but the Spaniard suggested that the forward is heading for Real Madrid.
“When there is a player of that calibre, we always have to be in that conversation. But it looks in a different way, that’s what I would say,” Arteta told reporters during his press conference ahead of the Burnley clash.
Real Madrid were expected to sign Mbappe on a free transfer in the summer of 2022, but he ultimately penned a new in the French capital.
At the time, it had been claimed that Los Blancos had ended their interest for good, but they are now working to complete what would be one of the biggest free transfers of all time.
The 25-year-old is likely to have to take a pay cut in order to move to Real Madrid, with the club not expected to be in a position to match his wages from Paris.
However, Mbappe would be in line for a substantial signing bonus, potentially as much as €100m (£85.5m).
Real Madrid would reportedly also be willing to allow the Frenchman to receive a 60/40 split in his favour in terms of image rights, which would further increase the attacker’s earning power at Bernabeu.
The attacker has made 290 appearances for his current side in all competitions since his arrival from Monaco in 2017, scoring 243 goals and registering 105 assists in the process.
This season, Mbappe has 31 goals and seven assists in 30 appearances in all competitions, and he will be looking to deliver the Ligue 1 title and Champions League trophy in his final season at the club.
PSG are 11 points clear at the top of the Ligue 1 table, while they recorded a 2-0 victory over Real Sociedad in the first leg of their last-16 Champions League clash earlier this week.
Arsenal are expected to sign a new striker this summer, with Brentford’s Ivan Toney still believed to be their leading target in the final third of the field.
