EXCLUSIVE: Truth behind Olise’s release clause after Chelsea’s 2023 blunder

Duncan Castles

Updated: 21 Jun 2024 14:34 CDT
5 min read

Michael Olise, The Transfers Podcast — © IMAGO

Michael Olise’s release clause at Crystal Palace is greater than previous reports indicated, FootballTransfers can reveal, but that is not about to stop Chelsea making a confident move for the former France U21 winger.

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In conjunction with the Transfers Podcast, FootballTransfers can reveal that Olise’s release fee at Selhurst Park is over £60 million, with the Blues willing to match that sum in order to land the 22-year-old.

Duncan Castles explained exactly what is going on behind the scenes both at Palace and Chelsea, and how the deal is playing out as these clubs would wish for the time being.

“The figure that's gone out in the media is that the release clause is £60m. I'm told that it's more than £60m. There's also been a bit of reporting that it's only accessible for Champions League clubs. I'm also told that it's not restricted to Champions League clubs. I think that's actually deliberate on, on Crystal Palace's part,” Castles revealed.

“I think a key element here that we have to pay attention to is that you’re trying to sign from Crystal Palace and you're trying to sign from Steve Parish. And Steve Parish is one of the most effective operators in the transfer market in English football. Doesn't allow his players to leave easily. He doesn't allow players to leave unless the circumstances suit him.

“When they signed this new contract with Olise, which was in August 2023, it was an improved four-year deal that came after Chelsea tried to take him on his previous release clause last summer. And they failed because they did not, I'm told, follow the correct legal procedure to activate that release clause.

“Parish was able to block the move off the back of it and get him to sign a new contract, increase the value, and place himself in a position where if someone matches it this summer, he will get a higher fee and a very significant fee for the player.”

EXCLUSIVE: Man Utd, Arsenal and Chelsea weigh up transfer for £40m Bournemouth star

Current ETV

Michael Olise

AM (CR), M (R)

C. Palace

Michael Olise

AM (CR), M (R)

C. Palace

ETV Range

€31.2M - €52M

'Good chance' Olise agrees Chelsea deal

If things fell apart for Chelsea last summer, they are being more rigorous this time around.

“We've seen in the past week it reported that Chelsea have been granted permission to speak to the player, which is an indication that they've told Parish they will meet that release clause, meet the release clause, should the player agree to join to them,” Castles, a leading expert in the football transfer market, explained.

“I would see that as a very specific strategy on Crystal Palace's part to use Chelsea as a market maker. They are demonstrating there that the highest spending club in the division are prepared to meet their price, which means everyone else has to as well, be that Liverpool, be that Manchester United, be that Newcastle United. Bayern Munich have also been mentioned as potential suitors.

“They now know they're going to have to, if Olise agrees to join Chelsea, if he agrees, personal terms with them, which I think there is a good chance that he will do.

© IMAGO - Michael Olise faces Milos Kerkez

“There's another factor here in that his agent, who is one of these agents who doesn't have many players, is due to be banned for a six-month period after this window ends. He’s incentivised to get this deal through this window so he can be the acting agent on the deal.

“If Chelsea agree personal terms with Olise, then the price is established, and then it becomes a fight to match that price or better it. And Parish at least gets the release clause or gets more down the line.

“I think there’s a good chance that this one runs for a while.”

FootballTransfers has also exclusively reported Liverpool's interest in Olise, yet they will have to muscle by Chelsea in order to do a deal.