Bayern Munich will pay €60m (£50.8m) including add-ons to bring Michael Olise to the Allianz Arena; Chelsea dropped out of the race to sign Crystal Palace forward; the 2024 summer transfer window closes on August 30 at 11pm UK time in England and at 11.30pm in Scotland
Monday 8 July 2024 07:14, UK
Michael Olise has completed his move from Crystal Palace to Bayern Munich.
The Bundesliga side will pay £50.8m (€60m) including add-ons to bring the 22-year-old to the Allianz Arena.
The Frenchman has signed a five-year contract at Bayern.
"The talks with FC Bayern were very positive, and I'm very happy to now be playing for such a big club," said Olise.
"It's a great challenge, and that's exactly what I was looking for. 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."
Olise had been a target for both Chelsea and Newcastle this summer, but he has opted to join Vincent Kompany's side.
Bayern sporting director Max Eberl said: "Michael Olise is a player who can make the difference and attracted great interest with his style of play.
"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 signalled that he really wanted to join FC Bayern. We're very much looking forward to him. He will enrich our game."
Olise departs Palace after three years at Selhurst Park having joined from Reading in July 2021.
He made 90 appearances for Palace, scoring 16 times and registering 25 assists.
Palace chairman Steve Parish said: "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 posted on X: "Thank you to everyone at Crystal Palace. Thankful for the journey that I went through as a player at this club and the love that everyone has shown me since day one.
"Thanks to all the staff, players and especially to all the fans that have supported me I'll be forever grateful."
Bayern look set to make another signing from the Premier League after Fulham midfielder Joao Palhinha completed his medical with the club on Saturday, according to Sky in Germany.
The Portugal international flew back to his homeland on Sunday.
Bayern have agreed a £47.4m deal to sign the 28-year-old.
However, the player's side still has to clarify details with Fulham over his exit and his Bayern contract until 2028 has not yet been signed.
The 2024 summer transfer window in the Premier League and Scottish Premiership is officially open.
The window will close on August 30 at 11pm UK time in England and at 11.30pm in Scotland.
The Premier League and Scottish Premiership brought forward Deadline Day to link up with the other major leagues in Europe. The closing dates were set following discussions with the leagues in England, Germany, Italy, Spain and France.
