Real Madrid president Florentino Perez says Kylian Mbappe "must have changed his dream" after the France striker rejected a move to the Spanish club.
Mbappe, 23, signed a new lucrative three-year contract at Paris St-Germain instead of moving to the La Liga club.
"His dream was to play at Real Madrid," Perez told El Chiringuito.
"We wanted to do it last August and they didn't let him leave, he kept saying he wanted to play at Madrid and 15 days before changed the situation."
According to Spanish football expert Guillem Balague, Mbappe had agreed a financial package with Real months ago for a potential switch to Spain prior to opting to stay with PSG.
Spain's La Liga reacted angrily to the news, calling the deal "scandalous" and has since filed a complaint to Uefa about what it believes to be Financial Fair Play breaches by PSG and Manchester City.