Kylian Mbappe's entourage are "unconvinced" by Real Madrid's offer, according to The Athletic.
The French forward is into the final months of his deal at Paris Saint-Germain, and has been repeatedly linked with a switch to the Madrid-based side.
However, the 25-year-old's circle are questioning Los Blancos' terms and are underwhelmed by their proposal.
Meanwhile, PSG have offered the striker the chance to remain on his current salary for as long as possible.
Madrid are reportedly offering Mbappe less than what has been put on the table two years earlier.
Other European giants are circling around the 2018 World Cup winner as well such as Liverpool and Arsenal.