According to a report from AS. Los Blancos want those two players to lead their offensive line in the 2021-2022 season alongside Eden Hazard, per that same report.
While Madrid initially wanted to at least try to sign Haaland in the summer of 2020, the Coronavirus pandemic and the low revenue because of it will force them to save money in the transfer window. Madrid are only expected to bring back some of their loanees like Achraf Hakimi or Martin Odegaard, who will be able to upgrade the current squad for free.
On the other hand, it won’t be easy for Real Madrid to complete the signing of Mbappe in 2021. While it’s true that the attacker’s contract expires in 2022 —which would force PSG to sell him if they don’t want to lose him as a free agent—, the French club seem determined about keeping Mbappe, which is why they are negotiating a potential record-breaking contract extension. Madrid seem to think that if Mbappe stays put, they’ll ultimately be able to sign him in 2021, just like they did with Eden Hazard in the summer of 2019.
Mbappe and Haaland are not only two of the best attackers in the world of football. They’re also very young, so Madrid would be signing two striker who could lead their offense for the next 10 years. However, keep in mind that these two players will receive interest —and likely better offers— from other clubs, so it won’t be that easy for Madrid to sign them both.