I think that Real Madrid needs desperately to find a key player like Mbappe which would give them that breath that much needed in midfield,Modric honestly is old now and cannot keep up at his age with such a high performing league,I think Real Madrid should do all that is in their possession to get a player like him to join them,it would make a big difference and overall his impact would be felt in both competitions.I am sure with a player like him Real Madrid would be fighting for the La Liga title much better against Barcelona and also his presence in Champions League would probably make them to not suffer devastating lost games like the one against Manchester City this season.
In fact, Madrid has many options as Karim Benzema's successor. it's just that, there are a lot of considerations for them right now. maybe Mbappe can answer Real Madrid's needs. unfortunately, to bring in Mbape will cost a lot of money. let alone the current rumors, PSG will not release Mbappe for free next season. that means, PSG could let Mbappe go if he doesn't want to extend the contract until 2025. at least, that's the rumor that Fabrizio Romano quotes.
As for Kane, the price is not ideal. So, I think Real Madrid is seriously considering signing a centre-forward.
well, we agree that Modric's role cannot be relied on as it used to be. however, experience and high flying hours. still needed by the young midfielders of Madrid. that is why, Madrid is reluctant to let go of its veteran players. at least, he will be a role model for young Madrid troops, especially in midfield. So, the real problem for Don Carlo is the centre-forward.
IMO, he knows what he's going to do with his squad next season. so, we just have to wait to see what Ancelotti will plan in the next summer transfer window.