Crystal Palace make huge Michael Olise transfer decision to blow Chelsea's £60m plan apart

Chelsea have reportedly been dealt a huge blow in their hopes of signing Crystal Palace star Michael Olise this summer. The 22-year-old is one of the most-wanted players in Europe at the moment with a number of clubs battling it out for his signature.

Olise, 22, is wanted by the likes of the Blues, Manchester United, Newcastle and Bayern Munich following his performances at Selhurst Park. Since signing from Reading in 2021, the London-born France Under-21 international has developed into a fine footballer.

Despite missing large parts of the 2023/24 campaign, Olise scored ten times and assisted a further six in 19 games for Palace. His form alongside Eberechi Eze saw the Eagles end the season well under Oliver Glasner.

However, after only signing a new contract in south London 12 months ago, Olise could be on the move once again. Talks are set to take place between Olise and his representatives in the next few days after permission was granted by Palace, football.london understands.

The £60m release clause inserted in his contract means he will come at a cost. There are also complications over a possible deal with parts of the money owed to his former club Reading.

However, Palace have launched a final attempt to keep hold of Olise once again with a new deal put on the table. According to journalist Fabrizio Romano, a new and improved contract has been made that includes a new release clause.

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Last year, the Frenchman opted to turn down a move to Stamford Bridge and instead pledged his loyalty to Palace. The decision is set to be down to the player himself, though it's unknown when a decision will come with him currently preparing for the Olympic Games.