The green light to begin negotiations with the 22-year-old has been granted to Newcastle United and Bayern Munich, who have both contacted Palace over the player. Olise and Chelsea had agreed to terms last summer, but the transaction fell through, so this time Chelsea is trying to sign him.
Chelsea would try to activate Olise’s release clause, which is believed to be worth almost £60 million, in his Crystal Palace contract. Despite having offered the former France Under-21 international a new contract, Palace is apparently fighting to hang onto him.
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In 19 Premier League games for Crystal Palace in 2023–2024, Olise netted 10 goals. In an effort to bolster their wide defense, Newcastle has nominated the winger as a possible target this summer.
But Premier League rivals Chelsea are ‘confident’ of getting a deal over the line ahead of The Magpies.
Transfer analyst Fabrizio Romano reports that Chelsea is getting ready to activate Olise’s release clause at Selhurst Park, and they are hoping to agree on personal terms.
“Chelsea keeps pushing to sign Michael Olise while Palace offer new deal!” said Romano on social media. Olise is Chelsea’s top summer target, thus they have been given permission to speak with him.Olise has been extended an offer by Crystal Palace that includes a raise in pay and a new release clause beginning in 2025.
Bayern and Newcastle are also authorized to speak with Olise, but Chelsea is pressing for a contract agreement. “Chelsea is confident and will not back down from this deal; it all depends on the player.” Chelsea’s Operation Olise is to reach a personal agreement because they are willing to pay the full release clause sum.
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