Manchester United are interested in making Crystal Palace winger Michael Olise one of the first signings of the Sir Jim Ratcliffe era at Old Trafford.

A move for Olise has been ruled out in January but United have identified the 22-year-old as a transfer target ahead of a planned overhaul of their squad at the end of the season.

Olise signed a four-year contract at Palace in August but his new £100,000-a-week deal includes a release clause that comes into effect in the summer.

The size of that release clause is unknown but it is likely to be significantly more than the £35million release clause in his previous Palace contract.

Ratcliffe has been given total control of football operations by the Glazers under the terms of his £1.03billion deal to buy a 25 per cent stake in United, and the INEOS billionaire is pressing ahead with plans to overhaul a disastrous transfer strategy at the club.

Sir Dave Brailsford is leading an audit of the transfer structure at United, which will take time, but potential summer targets are starting to be identified behind the scenes.

Olise is viewed as a player who could help revitalise United’s woeful attack.

Erik ten Hag’s side have scored just 22 goals in the Premier League this season, fewer than every team except bottom two Burnley and Sheffield United.

Jadon Sancho could be sold as part of a major summer shake-up, Anthony Martial is out of contract at the end of the season and £82m Antony continues to struggle.

Olise could provide a fresh creative spark.

The 22-year-old has scored five goals in seven Premier League starts since returning from a hamstring injury in November, including four in his last four matches.

He also hit a stunning injury-time free-kick to salvage Palace a 1-1 draw against United at Selhurst Park last season.

Ratcliffe’s takeover deal is yet to be ratified by the Premier League but INEOS have already started taking control of the football operations at United.

In the meantime, as part of their agreement with the Glazers, United cannot buy or sell players without consulting INEOS.

United will also attempt to offload several first-team and squad players to raise funds for the January window.

Outcast Sancho could return to Borussia Dortmund on loan after the German club opened talks with United, although the German club have offered to pay only a third of his £300,000-a-week wages for the duration of the deal.

Donny van de Beek has joined Eintracht Frankfurt on loan and Raphael Varane, Casemiro and Martial have linked with moves to Saudi Arabia but no deals are currently on the table and any major incoming deals will have to wait until the summer.

The club told fans last month not to expect a busy January transfer window, in part because of Financial Fair Play constraints.

But Ratcliffe’s investment, which could be ratified next month, is set to substantially increase the club’s ability to buy players in the summer without breaching financial rules.

Palace do not want to lose Olise, who moved to Selhurst Park in an £8m deal from Reading in 2021, but would be powerless to stop him leaving if his release clause is met.