Paris Saint-Germain has granted Saudi club Al Hilal the permission to enter into talks with Kylian Mbappe according to a source close to the negotiations.

This comes after Al Hilal submitted a staggering world record bid of 300 million euros ($333 million) for the talented footballer.

Al Hilal, based in Riyadh, made a formal offer through a letter, but it's important to note that any potential transfer can only occur with the agreement of Kylian Mbappe himself.

As of now, Mbappe has not shown any interest in moving to the rapidly developing Saudi league.

"The club has given permission to Al Hilal to speak with Mbappe. That's the request of the letter and that's been granted," the source said.

Mbappe has one year left on his contract with PSG, who want him to leave now rather than for nothing next summer.

But Mbappe, 24, is refusing to sign a new contract and the French champions believe he has already struck a deal to move to Real Madrid next year.

The source said Real Madrid were among a group of clubs which had also expressed an interest in Mbappe.

"In the group so far that have expressed their interest there are Manchester United, Inter Milan, Barcelona, Tottenham and obviously the Saudi club and Real Madrid," the source said.