Crystal Palace forward Michael Olise has decided to join Bayern Munich this summer, according to David Ornstein, who Football Park ranks as a tier one source.

The Frenchman attracted interest from various sides this summer, however it now looks as though the 22-year-old is now heading to Bayern.

The German side first contacted Palace last week and are now expected to agree a deal with the club for the winger’s services.

🚨 EXCLUSIVE: Michael Olise has chosen to join Bayern Munich. #FCBayern among 3 clubs (+ Chelsea / Newcastle) to contact Crystal Palace last week & now expected to agree deal with #CPFC for 22yo winger, whose contract includes release clause @TheAthleticFC https://t.co/xy2LCR92kE

— David Ornstein (@David_Ornstein) June 21, 2024

What has happened in the Michael Olise transfer saga?

Olise took his game to another level at the back end of the 2023/24 Premier League season, contributing to seven goals in the final six games of the campaign.

As a result of his impressive form, the Palace winger attracted interest from a whole host of big clubs with Chelsea, Newcastle United and Bayern all vying for his signature.

🚨 EXCLUSIVE: Michael Olise has chosen to join Bayern Munich. #FCBayern among 3 clubs (+ Chelsea / Newcastle) to contact Crystal Palace last week & now expected to agree deal with #CPFC for 22yo winger, whose contract includes release clause @TheAthleticFC https://t.co/xy2LCR92kE

— David Ornstein (@David_Ornstein) June 21, 2024

The Frenchman had previously been linked with Chelsea and was on the verge of signing for the Blues last summer, however opted against the move in the twelfth hour in favour of signing a new contract at Palace.

Within his new deal, Olise was free to move on at any time in the future so long as his £60 million release clause was met. The clause made Olise’s exit from the club very likely this summer and alongside Chelsea, both Newcastle and Bayern contacted the Eagles last week over the possibility of a transfer.

On Friday evening, Ornstein delivered the latest twist in the saga, revealing that Chelsea had dropped out of the race for the Frenchman due to the finances involved in the deal being beyond their reach.

The Blues instead opted to focus on other targets as well as rewarding existing players. Just over 15 minutes later, Ornstein announced that the winger favoured a move to Bayern and had already reached an agreement on personal terms with the German powerhouse.

Fabrizio Romano, who Football Park ranks as a tier one source, reported that Olise had also rejected a recent contract proposal from Palace which would have bettered his terms at the club.

What happens next?

With personal terms now agreed, all that needs to be completed is an agreement between both clubs. This process took its latest steps last night when Bayern contacted Palace about moving forward with a potential deal, Romano reported.

🚨🔴 Bayern made contact with Crystal Palace tonight to proceed with next steps of Michael Olise deal.

Palace have also been informed of Olise decision to join Bayern with personal terms agreed.

❗️ Understand final package expected is around £50m as total fee for Palace. pic.twitter.com/th5PWnfWfn

— Fabrizio Romano (@FabrizioRomano) June 21, 2024

Despite Ornstein reporting last week that the Frenchman has a £60 million release clause in his current Eagles deal, Romano revealed on Friday evening that the south-London club will bank a sum in the region of £50 million from the player sale.

Considering how sought after his signature was, this can be seen as quite the coup for Bayern who will have Olise during the best years of his career.

However, Palace will still be making a sizeable profit on the winger, who they paid Reading £7.6 million for in 2021.