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Chelsea miss out on Olise

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Despite having agreed personal terms with the player, Chelsea will not be signing Crystal Place winger Michael Olise.

The 22 year old had been in big demand, with Newcastle United and Bayern also amongst his suitors, but Chelsea had appeared to be winning the race.

However, ultimately they had concerns about the complexity of the deal, which will see the fee in his release clause of ₤60 million split between various parties – Palace, the player himself, his agent and his former club Reading.

Instead Olise is set to become Vincent Kompany’s first major signing as Bayern manager.

This is the second time that Chelsea have missed out on signing him. Last summer they believed that that had activated his release clause, which was then worth ₤35 million only to find that they had misunderstood the terms.

Olise then subsequently signed  four year deal at Selhurst Park which runs until 2027, and enabled the South London club to increase the fee demanded of him.

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