Michael Olise finalises Bayern Munich transfer with terms revealed as star opens up on Man Utd, Chelsea snub

Michael Olise has finalised his £60m move to Bayern Munich from Crystal Palace, signing a five-year contract and with the star making it clear why he opted for the German giants over rival interest from Manchester United and Chelsea.

The French winger moved to Selhurst Park from Reading just three years ago but has catapulted himself into one of the Premier League’s most in-demand stars in that time off the back of some truly eye-catching performances and even better numbers. Having produced 13 goal contributions from 40 games in his second season with Crystal Palace, Olise took his game to another level last time out, scoring 10 times and adding six assists from just 19 appearances in all competitions.

That form allowed Oliver Glasner’s side to claim a top-half finish, though it was clear that the raised profile of Olise was going to ensure it would be hugely difficult for the Eagles to retain his services.

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Indeed, Olise had come close to a £40m move to Chelsea last summer, before having a change of heart and opting to sign a new and improved deal at Selhurst Park. The Blues instead moved to sign Cole Palmer from Manchester City – a move that has since paid rich dividends – though they had maintained their interest in Olise and were well placed to sign him at the second time of asking this summer following extensive talks.

The 22-year-old star has also strongly appeared on the Manchester United radar this summer.

Bayern Munich transfers: Terms of deal revealed

And having quickly been established as a top summer target for Sir Jim Ratcliffe soon after he finalised his 27.7 per cent purchase into the club, United had also too sounded out the player over a move back up north and having previously been on the books of City as a trainee.

However, with a £60m exit clause in his deal, it emerged last month that it was Bayern – and new manager Vincent Kompany – who had emerged as favourites to sign him.

And with the player giving the green light to the move, a move worth a staggering £220,000 a week on a contract to 2029 was quickly agreed.

Olise then travelled to Munich over the weekend to finalise the deal and while he will spend a few days getting used to his new surroundings, he is due to head off on international duty soon having been selected to represent France at this summer’s Olympics.

Bayern will pay an initial £50.8m (€60m) for Olise, with the remainder of the fee made up in bonuses and add-ons up to a maximum of £60m (€70.9m). Having cost Palace a fee of £8.37m from Reading, the Eagles have turned over a very tidy profit on the star.

“Michael Olise is a player who can make the difference and attracted great interest with his style of play,” Bayern Munich‘s director of sport Max Eberl said in a statement.

“We want new impetus in our team, new energy, new ideas – that’s what players like Michael Olise stand for. During the talks, he quickly signaled that he really wanted to join FC Bayern. We’re very much looking forward to him. He will enrich our game.”

Palace chairman Steve Parish said in a statement: “We are hugely proud of what Michael has achieved at Crystal Palace, a club where he has developed greatly as a player.

“We respect his desire to further test himself at the highest level of world football, and I would like to personally wish him the very best for his next adventure with Bayern Munich in Germany which I’m sure we will all follow closely.”

Olise explains decision to snub Man Utd, Chelsea for Bayern

Olise now joins former Tottenham stars Harry Kane and Eric Dier in Bavaria and he was clear in his mind that Bayern were the only team he wanted to play for once they came calling.

“The talks with FC Bayern were very positive, and I’m very happy to now be playing for such a big club,” he said, via the club’s website.

“It’s a great challenge, and that’s exactly what I was looking for.

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“I want to prove myself at this level and play my part in ensuring that we win as many titles as possible with our team in the coming years.”

Bayern’s sporting director Christoph Freund explained why his side were so determined to win the race for Olise, who will cost Bayern an initial fee of £50.8m, with the final £8.2m made up in add-ons.

“Michael is quick, tricky, a goal threat and very versatile in attack.” Freund said.

“His goals and assists stats are already outstanding. At the age of 22, Michael is already very advanced, but is also hungry and still has a lot of potential.

“Fans come to the stadium to see players like Michael Olise.”