Michael Olise saga hotting up? Crystal Palace 'make move' to fend off Chelsea, Newcastle interest

The West Londoners expressed an interest in signing Olise last summer, but the winger opted to stay at Palace and extended his contract until June 2027.

Olise missed several games due to injury during the 2023-24 campaign, but he still managed to score 10 goals and provide six assists in 19 Premier League appearances for the Eagles.

The France Under-21 international enjoyed a strong end to the season following the arrival of new manager Oliver Glasner and was part of the Palace side that won six of their final seven matches to secure a 10th-placed finish in the top flight.

Olise is regarded as an integral player for Palace, but his form over the last few seasons has understandably caught the eye of a number of top European clubs.

Crystal Palace offer Olise new contract

According to journalist Fabrizio Romano, Crystal Palace have offered a new contract to Olise, which includes a higher salary and a new release clause valid for 2025.

Olise's current release clause is believed to be valued at £60m, but Palace intend to increase it in a bid to fend off interest from top clubs and retain the services of a star player who Glasner wishes to build his squad around for 2024-25.

Despite this, Romano states that Chelsea are 'still confident' of winning the race for Olise and plan to push to agree personal terms with the winger, who will ultimately make the final decision over his future.

Both Newcastle United and Bayern Munich have also stepped up their interest in recent weeks and, like Chelsea, are 'allowed to talk' to Olise to discuss a potential summer transfer.

Manchester City, Manchester United, Arsenal and Aston Villa have also been credited with an interest in Olise, but they all seem to be further behind in the race for his signature as things stand.

Chelsea leading race for Olise?

It is understood that Olise, who spent time in Chelsea's academy between 2009 and 2016, would be keen to make the move to Stamford Bridge this summer, with a recent report claiming that he has already verbally agreed personal terms with the West Londoners.

Amid Chelsea's concerns surrounding the Premier League's Profit and Sustainability Rules, it has been suggested that the Blues will consider negotiating a player-plus-cash deal to sign Olise from Palace.

However, it seems more likely that Todd Boehly and co will be required to pay a premium to secure the services of Olise, who has recorded 16 goals and 25 assists in 90 appearances for the Eagles since joining from Reading in 2019.

Chelsea, now managed by Enzo Maresca, could reportedly consider offers for Raheem Sterling this summer, should they win the race for Olise.

The long-term futures of Noni Madueke and Mykhaylo Mudryk are also thought to be uncertain at this stage, while Palace have allegedly opened talks with Arsenal over a potential move for Reiss Nelson amid uncertainty over Olise's future.