The summer transfer window in Europe is a time when the biggest clubs in the world spend eye watering amounts of money on soccer players and this year is turning out to be something of a high water mark as far as spending is concerned. According to latest reports in Spanish media, current Spanish and European champions Real Madrid is all set to secure the signing of French sensation Kylian Mbappe for a world record fee.

A jaw dropping fee

When Manchester United bought French midfielder Paul Pogba last year for a Record Breaking $116 million (£89 million), it was thought that the fee would remain a record for a long time. However, Spanish giants Real Madrid is all set to blow that out of the water for French forward Kylian Mbappe, if today's reports in the Spanish press are to be believed. Spanish publication MARCA reported yesterday that Real Madrid is close to agreeing on a record breaking fee of around $210.3 million ( £161 million) with French club AS Monaco.

18-year-old Mbappe had been courted by some of biggest clubs in Europe all summer ever since his breakout season with AS Monaco last year but it seems that Real Madrid's manager and France legend's pitch has swung the deal in favor of the Spanish club. Mbappe is set to sign a 6-year contract with Real Madrid and will earn $8.15 million per season (7 million Euros).

Another 'Galactico'

Real Madrid's strategy of buying the best players in the world has been wildly successful over the past decade and Mbappe seems to be the latest addition to the long line of world class talents that join the club on a regular basis.

Mbappe will join the likes of Cristiano Ronaldo, Karim Benzema, and Gareth Bale to form one of the most lethal attacking units in European football. Mbappe lit up the French league and the UEFA Champions League with his electrifying performances.

It is also important to point out that Real Madrid has also made significant sales this summer and so the funding for this record breaking acquisition has not been a problem for the club.

They sold Alvaro Morata to Chelsea for around $91 million (£70 million) and the sale of Danilo to Manchester City also raised around $34.6 million ( £26.5 million). The addition of Mbappe further reinforces Real Madrid's status as arguably the most attractive destination in European football. With the addition of the young Frenchman, the club must be looking to consolidate their dominance in Spain and the rest of Europe.

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