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News
- 1 hours ago
How Enzo Fernandez indirectly stopped Chelsea signing Michael Olise
Cameron Smith
- Updated: 10 Apr 2026 11:57 BST
- 5 min read
Analysis
Michael Olise has been one of Europe’s most sought-after players for several years, but his stock has risen significantly following a sublime season for Bayern Munich.
The France international has 18 goals and 26 assists in 41 games for Vincent Kompany’s side so far this term and he produced a dazzling display on the biggest stage versus Real Madrid at the Bernabeu on Tuesday night.
Current ETV
Michael Olise
M, AM (R)
Bayern
Michael Olise
M, AM (R)
Bayern
ETV Range
€126.9M - €155.1M
Bayern goalkeeper Manuel Neuer won the official UEFA Man of the Match award, but it was Olise who shone brightest on the night.
Interest from Real Madrid has unsurprisingly ramped up following his performance against Alvaro Arbeloa’s side in the Champions League, while the Frenchman remains one of Liverpool’s top targets to replace club legend Mohamed Salah this summer.
However, Bayern have insisted that Olise isn’t for sale and they are under no pressure to sanction a sale as his current deal at the Allianz Arena isn’t due to expire until 2029. In fact, it’s understood they are already keen to finalise a contract extension agreement with the winger.
Olise’s explosion into one of the world’s best players since arriving in Germany will come as little surprise to Premier League viewers, with the 24-year-old having enjoyed a sensational spell at Crystal Palace.
The Frenchman was a standout performer during his three-year stint at Selhurst Park, but it was his final campaign in which he demonstrated his talent to another level. Despite struggling with injury issues, Olise notched 10 goals and six assists in 19 Premier League matches - averaging a goal involvement every 80 minutes in the English top flight.
How Chelsea missed out on Michael Olise
Olise had been expected to play for Chelsea in 2023-24, with the Blues having triggered his release clause, but he instead performed a shock transfer u-turn and opted to sign a new contract at Palace in a move that stunned Mauricio Pochettino’s side.
15 days after Olise’s new contract at Crystal Palace was announced, Chelsea unveiled the signing of Manchester City starlet Cole Palmer.
Despite the Englishman’s sensational debut season at Stamford Bridge, Chelsea were once again eager to lure Olise to west London in 2024 and they initiated advanced talks with the player and Crystal Palace when the summer window opened.
However, on 21 June, David Ornstein revealed that Chelsea had withdrawn from the race to sign the France international, with his move to Bayern formally announced just two weeks later.
Despite the fact it was reported that Chelsea opted against signing Olise due to the finances involved, FootballTransfers understands the Blues’ conduct with Benfica over the signing of Enzo Fernandez was a key reason why the proposed deal collapsed.
Speaking on The Transfers Podcast when Chelsea looked in pole position to sign Olise, Duncan Castles revealed: “We should also note that the sporting directors at Chelsea, 18 months ago, went to Benfica to sign Enzo Fernandez. They told Benfica that they would match the release clause for Enzo Fernandez in initial informal conversations with them.
“They were given permission to speak to the player. They convinced the player by offering him a huge salary increase over Benfica to the point where he agitated for the move. And then they came back to Benfica and offered €20-30m less than the release clause.
“Rui Costa, the president of Benfica was infuriated with it and we had this really messy, probably two-week period. And when they finally negotiated a deal, it came very close to the release clause in the end.
“I would suspect - and it's just my suspicion - that [Steve] Parish will be paying attention exactly to the phrasing of what Chelsea are doing because people in the market have noted what Chelsea have done in other circumstances and noted that what they did with Fernandez in terms of a verbal agreement was reneged on down the line.”
In the end, Palace agreed a deal to sell Olise to Bayern and Chelsea will undoubtedly be ruing their inability to finalise a transfer following the woes of Jamie Gittens, Alejandro Garnacho and Pedro Neto this season.
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