Chelsea WITHDRAW from Michael Olise transfer race - Ornstein

Tom Weber

• Updated: 22 Jun 2024 06:56 CDT
• 4 min read

Chelsea are out of the race to sign Michael Olise, according to David Ornstein.

The Crystal Palace winger is the Premier League's most sought-after commodity this summer, but signing him won't be easy. Olise has a release clause that has been described as 'complicated' and FootballTransfers has been able to reveal that it is likely higher than the €70 million widely reported.

It is therefore clear that signing Olise will be a very pricey operation - too pricey for some. According to David Ornstein of The Athletic, Chelsea have now officially pulled out of the race to sign the 22-year-old due to the cost involved.

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Chelsea had been in talks with the player's camp after being granted formal permission to speak to him last week and they have now decided that the financial package required to land him is too steep.

Ornstein reports that Chelsea want to be smarter with their money and create a more 'disciplined' wage structure at the club and felt that Olise would not be a good addition at this moment in time, with the Blues already boasting several left-footed attackers.

Chelsea will still make signings

Despite this, Ornstein reports that Chelsea are still expected to bring in offensive reinforcements. In fact, he states that Chelsea will try to add as many as two more attackers this summer.

Additionally, Chelsea will look to reward players already at the club with new and improved contracts should they outperform expectations rather than constantly seeking to add fresh talent.

READ MORE: Chelsea battle Liverpool for 'future Ballon d'Or winner'

The Blues are keen to have a more balanced approach to recruitment and will only add players if they feel they really improve the squad while not requiring an unreasonable financial outlay.

The news of Chelsea leaving the Olise race will be news to the ears of Man Utd, though there have been reports that they could also move on from the Crystal Palace winger. Liverpool are also interested in the 22-year-old, as revealed by FootballTransfers.