Michael Olise chooses to sign for Bayern Munich over Chelsea and Newcastle

Michael Olise has agreed personal terms with Bayern Munich, choosing the German giants over Chelsea and Newcastle United for a transfer this summer.

The winger attracted interest from Chelsea last summer too, but Crystal Palace renewed his contract, inserting a £60 million release clause in the deal. The Eagles tried to repeat the same trick to keep Olise, with a £100 million clause this time around, but the player turned down the offer in favour of their previous agreement.

Michael Olise chooses Bayern Munich over Chelsea and Newcastle United

🚨🔴 Bayern made contact with Crystal Palace tonight to proceed with next steps of Michael Olise deal.

Palace have also been informed of Olise decision to join Bayern with personal terms agreed.

❗️ Understand final package expected is around £50m as total fee for Palace. pic.twitter.com/th5PWnfWfn

— Fabrizio Romano (@FabrizioRomano) June 21, 2024

As reported by David Ornstein of the Athletic, Chelsea didn’t go through with the deal as they couldn’t match the financial demands of the player. The Blues are trying to restructure their wage bill and make it more sustainable, which prevented them from accomodating the Palace forward.

Bayern, on the other hand, have moved fast once again to reach an agreement on personal terms with the 22-year-old. They can also offer him Champions League football, which neither Chelsea, nor Newcastle United have qualified for, which must have played a part in the negotiations.

The former Bundesliga winners are now set to enter negotiations with Crystal Palace over the financial structure of the deal, although they could trigger the £60 million release clause to complete the move at once.