Chelsea have reportedly lost the race to sign Crystal Palace star Michael Olise, who has decided to join Bayern Munich instead this summer.
Olise signed for Palace from Reading in 2021 and quickly adapted to the Premier League, establishing himself as a regular in the first team during his time in London.
The 22-year-old Frenchman enjoyed arguably the best season of his career in the 2023-24 campaign, scoring 10 goals and providing five assists in just 18 league games for the Eagles.
Due to his impressive performances last term, several clubs showed interest in him, including Arsenal, Manchester United, Newcastle United and Chelsea, the latter of which had a longstanding interest in the player.
The Blues were keen on convincing the 22-year-old to remain in the Premier League and had been authorised by Palace to initiate discussions with Olise's representatives.
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Olise set to join Bayern Munich this summer
Despite their interest, BBC Sport report that Chelsea are now set to miss out on signing Olise again, with the Frenchman opting to join Bundesliga giants Bayern Munich this summer instead.
It is understood that Palace were prepared to offer Olise a new contract to encourage him to stay at Selhurst Park, but the allure of Champions League football proved too strong to resist.
This marks Chelsea's second unsuccessful attempt to secure Olise, having failed to get a deal over the line last summer as well.
Olise has a release clause in his current contract at Palace, but it is believed to have a complex structure, potentially exceeding £60m, which Chelsea were reluctant to meet.
He signed a new deal at Selhurst Park last August, which saw his salary increase to £100,000 per week, making him one of the top earners in the team.
However, it is understood that the 22-year-old is now in line to receive an even bigger salary boost at the Allianz Arena, with reports suggesting he could earn £220,000 per week.
Still, Palace are set to make a substantial profit on the sale of the player, having acquired him three years ago for approximately £8m.
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Kompany on the verge of first signing as Bayern boss
The deal represents a significant coup for new Bayern boss Vincent Kompany, who was appointed as the club's successor to Thomas Tuchel shortly after Burnley were relegated from the Premier League.
Strengthening the attack was one of the primary objectives set for the new boss this summer, and with Olise, they are securing one of the most promising young wingers in Europe.
Bayern saw their 11-year reign as Bundesliga champions brought to an end last season, despite signing England captain Harry Kane at the start of the 2023-24 campaign.
The Bavarians are expected to finalise the deal for Olise in the coming days.
Devesh Jaganath
