Kylian Mbappe refused to meet with Al Hilal officials in Paris on Wednesday over a proposed world-record €300 million ($333 million) transfer, according to a report.
Representatives of the Saudi Pro League side were in Paris to finalise a deal for the transfer of Brazilian Malcom from Zenit Saint Petersburg.
While in the French capital, the delegation attempted to meet with Mbappe to present their proposal after being given permission by his club Paris Saint-Germain.
But the French striker refused "any discussion with the representatives of the Al Hilal club, present in Paris this Wednesday."
"This approach will not succeed," added L'Equipe because the entourage of the 24-year-old player "refused any discussions with the representatives of the Saudi club".
"The captain of Les Bleus has never considered this option," the report added.
Mbappe has one year left on his contract with PSG, who want him to leave now rather than for nothing next summer or sign a new contract at Parc des Princes.
Mbappe has said he intends to see out the final months of his deal with the French champions.
It is understood Mbappe's preference is to then join Real Madrid next summer on a free transfer, in which he would be guaranteed a huge signing on bonus as no transfer fee would be involved.
The standoff between Mbappe and PSG reached a new peak last weekend when they dropped him from their squad to tour Japan and South Korea.
There have been suggestions that Mbappe would not be selected for an entire year if he fails to find a solution with PSG.
Mbappe, the club's all-time top scorer with 212 goals in 260 appearances, remains the second most expensive player in history behind his PSG teammate Neymar.
He was still a teenager when he joined PSG on a season-long loan from Monaco in August 2017. The move turned into a permanent transfer the following year in a €180 million deal.
The third member of PSG's superstar trio, Lionel Messi, left at the end of last season to join MLS franchise Inter Miami.
Al Hilal are one of four clubs majority owned by Saudi Arabia's Public Investment Fund (PIF).