£50m star explains Premier League transfer decision after Newcastle United talks & five-year deal agreed

The 22-year-old winger opted to leave Crystal Palace and the Premier League to join the Bundesliga giants and six-time Champions League winners under the new management of Vincent Kompany.

Last month, Bayern, Newcastle and Chelsea were granted permission to speak with Olise’s representatives last month. Chelsea had previously agreed personal terms with the player but they were once again unable to get the deal over the line as Bayern swooped to secure his signature.

Manchester United were also linked with a potential hijack of the deal as it was held up by Palace’s sell-on percentage but it was finally completed on Sunday, July 7.

Olise joins Bayern Munich in a deal worth £50million in total and has agreed a five-year deal.

With no shortage of interest in his services, Olise was asked why he chose to join Bayern over the other sides who had entered discussions.

He said: “Talks with Bayern were very positive. I am very happy to be playing for such a big club. “It's a big challenge, exactly what I was looking for. I want to prove myself at this level and win titles”.

He leaves Crystal Palace having scored 16 goals in 90 appearances for the South London club, including 10 goals in 19 appearances during the 2023-24 campaign.

Newcastle highlighted Olise as an ambitious summer signing as they look to strengthen the right-wing position this transfer window. Now the club will look elsewhere having just appointed Paul Mitchell as sporting director.