Chelsea, Manchester City dealt blow in Michael Olise race?

The 21-year-old spent time with both Chelsea and Man City during his youth career, while he also had a spell at Arsenal, before arriving at Reading in 2016.

Olise spent three years in the Berkshire outfit's youth system before going on to represent them at first-team level on 73 occasions, scoring seven goals and registering 14 assists in the process.

The France Under-21s international starred for the Royals during the 2020-21 campaign, scoring seven goals and registering 12 assists in 46 appearances, which led to Palace signing him in July 2021.

The Eagles activated the attacker's £8m release clause to bring him to Selhurst Park, and has now represented the top-flight side on 71 occasions, scoring six goals and registering 19 assists.

Olise scored twice and provided 11 assists in 37 Premier League appearances this season, and he is believed to be admired by a number of leading clubs in the top flight.

A recent report claimed that both Man City and Chelsea are interested in signing the playmaker this summer.

However, according to Football Insider, Palace are confident of keeping hold of Olise beyond the end of the transfer window.

There is allegedly a £35m release clause in his current deal at Selhurst Park, which is unlikely to put off either Man City or Chelsea due to his potential.

However, Palace are said to be in discussions with Olise over a new contract, which could potentially remove the release clause and hand him an improved salary.

The attacker allegedly believes that regular football is best for his development at this stage of his career, which has also strengthened Palace's position this summer.

Olise will not be available in the early stages of the 2023-24 campaign, with a hamstring injury expected to keep him on the sidelines until at least the middle of September.

Chelsea are still looking to improve their attacking options for the coming season, while Man City are thought to view Olise as a possible replacement for Riyad Mahrez, who has completed a move to Al-Ahli.