As has been the case for the past two summer transfer windows, the 24-year-old's future is set to dominate the headlines in 2024 as he runs down the final 12 months of his Parisiens contract.
PSG did their utmost to force Mbappe out of the door in the most recent window after being told that the striker would not trigger the year-long extension in his current deal, thereby allowing him to depart for nothing in 2024.
The French champions ultimately conceded defeat in their efforts to sell the World Cup winner, who turned his nose up to talks with Al-Hilal after the Saudi Pro League giants came forward with a world-record bid.
After being demoted from first-team training, the ex-Monaco man was eventually re-integrated into Luis Enrique's squad and has made a typically fast start to the campaign, already scoring 15 goals in as many games across Ligue 1 and the Champions League.
However, the France international will still be exiting the Parc des Princes for nothing at the end of the season unless the situation changes in the coming months, and Liverpool are believed to have rekindled their interest in an audacious move.
The Reds may struggle to afford the signing of Mbappe even on a free transfer, though, as according to AS - via Sport Witness - the PSG attacker is after a yearly salary of €35m (£30.6m) after tax.
Should Mbappe indeed run down his PSG contract and exit for nothing, he will be well-placed to command a higher wage as a free agent, while he is also believed to be seeking a signing-on bonus of €100m (£87.4m).
Such demands make a move to Anfield appear fanciful for Mbappe, whose chances of finally donning the Real Madrid kit are also believed to be dead in the water for a number of reasons, including his financial wants.
Los Blancos have been pushed back in their efforts to sign Mbappe since 2021, although there was a consensus that the 24-year-old would arrive at the Bernabeu next year to succeed Karim Benzema.
However, Carlo Ancelotti's side are now understood to have dropped their interest in Mbappe entirely, given that he will also be 25 years old next summer, and Real are shifting their transfer policy to signing starlets in their teenage years or early 20s.
As a result, Liverpool could be the leading European contenders for Mbappe's services, and significant funds will be freed up if Mohamed Salah leaves the club at the end of the 2023-24 season.
The Reds rebuffed a £150m deadline-day bid from Al-Ittihad for the Egypt international, but the Saudi Pro League champions - alongside their other Public Investment Fund-backed rivals - will rekindle their interest next year.
Liverpool are expected to block any January offers for Salah, but the ex-Chelsea man will enter the final year of his contract in 2024, and it is unclear whether the Reds will sanction an extension or entertain lucrative offers from the Middle East.