Transfer Centre

Crystal Palace 'raise release clause for Chelsea-linked Michael Olise'

By Devesh Jaganath | 07 September 2023

Crystal Palace 'raise release clause for Michael Olise'

Crystal Palace reportedly increase the £35m release clause in midfielder Michael Olise's contract as part of the new four-year deal he signed after turning down Chelsea.

Crystal Palace have reportedly upped the asking price for Michael Olise by increasing the release clause in his new contract, which takes effect next summer.

Olise was one of several targets in Chelsea's summer spending spree, but the midfielder turned down a move to Stamford Bridge despite the Blues activating the £35m release clause in his previous contract.

With confirmation that the 21-year-old had chosen to remain at Selhurst Park, club chairman Steve Parish provided the midfielder with an upgraded contract that included a healthy salary increase to keep him at the club.

According to the Evening Standard, the exact figure of the new release clause is unknown but is reported to be significantly higher than the previous asking fee of £35m.

Crystal Palace's Michael Olise reacts on April 25, 2023 © Reuters

The report adds that Chelsea are still admirers of the player but are likely to calm their interest in him after splashing the cash on acquiring the services of Cole Palmer from Manchester City on transfer deadline day.

The Palace board were desperate to keep hold of the rising star following the departure of Wilfried Zaha to Turkish Super Lig Champions Galatasaray on a free transfer during the summer break.

Olise made 37 appearances for the Eagles in the Premier League last season and managed two goals and 11 assists while also featuring in the France Under-21s several times.

The midfielder is currently sidelined with a hamstring injury he picked up while playing for his national Under-21 side at the European Championship over the summer.