The Eagles paid £8m to sign the French youngster from Reading last summer and committed him to a five-year, £34,000-per-week contract, but significantly, that initial deal reportedly included a release clause of £35m.
Furthermore, The Daily Mail revealed in February that the likes of Arsenal, Chelsea and Bayern Munich were all circling for the 20-year-old ahead of the summer transfer window.
He posted: “EXCL: Crystal Palace in talks with Michael Olise over new contract. Agreement close. Extra year likely but no salary increase. Aim is to raise release clause (£35m) to ensure future sale breaks #CPFC record (£50m) & that would benefit all”.
The likelihood is that the agreement is only extended by 12 months and that the player’s salary will stay the same, but Palace’s main objective is to increase Olise’s release clause.
They want to take it past the £50m mark, potentially setting up a club-record departure. The 20-year-old would like to stay at Selhurst Park, and discussions between the two parties are nearly complete, with an agreement potentially being reached before the summer transfer window opens on 10 June.
This is a smart move from Palace, as clubs would likely have pounced on a £35m opportunity off the back of a strong debut season in south London for Olise.
Those numbers are even more impressive when you consider that the 20-year-old has only started 12 Premier League matches. As per Transfermarkt, he’s either scoring a goal or setting one up every 120 minutes on average.
The £19.8m-rated attacker is a ‘special talent‘ according to his manager, and he plays with ‘effortless confidence’ in the words of podcaster Dan Cook. Therefore, it must be music to the ears of Palace fans to hear that the club are moving swiftly to try and ward off prospective suitors for another while at least.
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