AS Monaco vice-president Vadim Vasilyev has confirmed that the club are in talks with Kylian Mbappe over a contract extension.

Mbappe is one of the hottest properties in world football at the moment, with a host of Europe's top clubs thought to be interested in his signature following a breakthrough campaign which saw him score 26 goals across all competitions.

Real Madrid were reported to have agreed a world-record £161m deal for the 18-year-old, although Monaco later denied those claims and have now revealed that they have begun negotiations over an extension.

"We are in discussions over a contract extension with Kylian and we hope to reach an agreement," Vasilyev told reporters.

Premier League duo Manchester City and Arsenal have also been linked with the France international, although Madrid are understood to be leading the race for his signature.