£50m Premier League transfer snub as medical booked & five-year deal agreed after Newcastle United talks

Bayern have won the race for the 22-year-old’s signature ahead of Chelsea, Newcastle United and Manchester United.

According to transfer expert Fabrizio Romano, Bayern have booked the first part of Olise’s medical to take place on Sunday having only just signed a deal.

Romano tweeted: “Understand nothing was signed yet until today [Thursday, July 4] as Bayern were informed of Palace to have a percentage on future sale for Olise after triggering the clause. This was the key point to clarify.”

Both Newcastle and Chelsea were granted permission to speak with the player’s representatives last month before Bayern were able to strike a deal. Man United were also linked with a potential hijacking of the transfer as it was held up by Palace’s sell-on percentage. But all three Premier League sides will miss out with Olise already agreeing a five-year deal at Bayern as he prepares for his medical at the Bundesliga club.

He will leave 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 a potential albeit 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.

The Magpies have made four signings already this summer with Lloyd Kelly, Lewis Hall, John Ruddy and Odysseas Vlachodimos all officially joining the club on July 1.