Real Madrid have announced the signing of Kylian Mbappé seven years after they first tried to bring him to the club. The France forward will officially join on a free transfer on 1 July after his Paris Saint-Germain contract expires.

Mbappé will be paid an annual salary of between €15m (£12.8m) and €20m (£17m) with annual increments. He is due to receive a €125m (£106.5m) signing-on bonus spread over five years of the contract, and will get 80% of his image rights.

Shortly after a Madrid statement confirmed the move, the 25‑year‑old forward shared images on social media of himself as a youngster in the club’s clothing, including ­meeting Cristiano Ronaldo at the Valdebebas training ground. “A dream come true,” Mbappé wrote. “So happy and proud to join the club of my dream, Real Madrid. Nobody can understand how excited I am right now. Can’t wait to see you, Madridistas, and thanks for your unbelievable support. Hala Madrid!”

With Mbappé preparing with France for Euro 2024, Madrid hope to present him in mid-July. He will wear the No 9 shirt next season. Madrid’s statement confirming his arrival said: “Real Madrid and Kylian Mbappé have reached an agreement whereby he will be a Real Madrid player for the next five seasons.”

Mbappé moved to PSG from Monaco seven years ago and Madrid made further attempts to get him in 2021, when they offered €200m on summer deadline day, and 2022, when the forward held positive talks with the Spanish club but ended up committing to a new contract.

The signing of Mbappé follows Madrid’s win against Borussia Dortmund at Wembley last Saturday that secured a record-extending 15th European Cup. Mbappé, who scored 256 goals in 308 PSG appearances, joins forwards at Madrid including Vinícius Júnior and Rodrygo. Another Brazilian forward, Endrick, is due to arrive next month from Palmeiras when he turns 18.

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Mbappé was not included by Thierry Henry on Monday in France’s 25-man preliminary squad for a ­training camp for the Paris Olympic Games and will not be part of the final squad. The men’s tournament runs from 24 July to 9 August. “Clubs have the power to say yes or no,” Henry said.