PSG landed the French wonderkid for £160million with PSG's players told that the 18-year-old is set to be unveiled at the Parc des Princes as soon as Monday.
Marca on Thursday evening reported that while Mbappe's personal preference was to play for Real Madrid but PSG offer was too good to be refused and the 18-year old French forward made a decision to snub Madrid.
For their part, Monaco are furious over the potential sale of Mbappe to PSG, and are looking at alternatives, including AC Milan player Carlos Bacca, suggesting Diego Costa could indeed be on his way to the Serie A side, who have been no slouches themselves in the transfer window this summer.
However, Monaco had been insistent they wanted to hold on to the teenager despite the interest from Real.
But the youngster's father convinced the club to let him leave this summer instead of hanging on for another 12 months.
Pioneer Natural Resources Company (PXD) Stake Maintained by Bp Plc
The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website . The stock of Pioneer Natural Resources (NYSE:PXD) has "Underperform" rating given on Monday, August 10 by CLSA.
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Iheanacho trains with Leicester City teammates ahead of Arsenal game
The danger for Chelsea is that the harmonious atmosphere re-established by Conte after Mourinho's bitter departure is eroded. One of their 15 draws came last season but was at Turf Moor, which also witnessed 10 of their 11 league wins for the season.
Quite how PSG are funding the deal without breaching Financial Fair Play rules is another matter entirely, and the deal will likely see UEFA scrutinise the club's summer business to ensure FFP is not being exploited.
Following four successive Ligue 1 title victories, PSG were left with a bitter taste following Monaco's success past year, and boss Unai Emery has been backed with a staggeringly large transfer budget to wrestle the crown back.
The French heavyweights, PSG are thought to be out of the race in signing Kylian Mbappe.
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