Arsenal considering £40m summer move for Crystal Palace's Michael Olise?

Crystal Palace winger Michael Olise has emerged as a summer transfer target for Arsenal, according to a report.

The 21-year-old left Reading in the summer of 2021 to join the Eagles, and he recently made Premier League history with a phenomenal playmaking display against Leeds United.

Roy Hodgson's side came from a goal behind to thrash the Whites 5-1, during which Olise set up three goals, becoming the youngest player to provide three assists from open play in a single Premier League game.

Olise's trio of assists at Elland Road took him up to six goals and 16 assists in 63 outings for Palace, including two goals and eight assists from 29 outings in the current Premier League season.

The France Under-21 international's performances are said to have attracted the attention of Arsenal boss Mikel Arteta, who views Olise as a top talent for the future, according to Football Transfers.

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The attacker's age, potential transfer fee and high resale value all appeals to the Gunners, who could be quoted an affordable price of £40m to sign Olise this summer.

That fee could be lowered to £35m if the Eagles are relegated from the top flight, with Hodgson's men one of nine teams fighting to escape the dotted line in the business end of the season.

Furthermore, Olise is understood to be an Arsenal supporter, and Palace would not rebuff an acceptable bid from the Premier League leaders if the attacker made his desire to leave clear.

The report adds that Olise's contract at Selhurst Park might include a release clause of an unspecified value, but that has not been confirmed.

Arsenal boss Arteta is understood to view Olise as the ideal backup to Bukayo Saka, who currently has Reiss Nelson and Fabio Vieira for cover at the Emirates, but the former's future is unclear.

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Nelson is yet to start a Premier League game this season, but he has made a telling impact as a substitute with three goals and two assists in cameos against Nottingham Forest and Bournemouth, including a dramatic last-gasp winner against the latter last month.

The 23-year-old is out of contract at the end of the campaign and is thought to be on the radar of Brighton & Hove Albion, but Arsenal are understood to be in talks with their academy graduate over an extension.

However, should Nelson ultimately call time on his Arsenal career in search of regular minutes, his exit would open the door for Olise to arrive as a natural replacement.

The London-born youngster is contracted to Crystal Palace for another three years, and he has represented France internationally from Under-18 level, but he is still eligible to turn out for England, Algeria or Nigeria at senior level.

As well as Olise, Arsenal are also rumoured to be considering a summer move for 17-year-old Flamengo starlet Matheus Goncalves as Arteta aims to bolster the youthful talent in his attacking ranks.