Michael Olise has turned down a move to Chelsea in favour of signing a new long-term contract at Crystal Palace.
Chelsea had been expected to complete the signing of Olise after activating the winger’s £35m release clause at Crystal Palace, but the 21-year-old has turned down the move in favour of committing his future to the Eagles.
The 21-year-old – who provided 11 assists last season to win Crystal Palace’s Player of the Season award – has penned a four-year contract in South London, with manager Roy Hodgson expressing his delight at the deal.
“It’s the best possible news we could have. I had been concerned – it’s always concerning when a club of Chelsea’s stature take interest in a player, and people will suggest that a move to them might be the best bet,” Hodgson told the club’s official website.
“I had always hoped that wouldn’t be the case and that Michael would realise that at such a young age his future here is very bright, and we can help him move very quickly on to another level.
“I am delighted for the club, and I must congratulate Steve Parish and Dougie Freedman on the fantastic job they have done in persuading him that, even though there was pressure from outside, ‘this is your place and this is where we think you will progress in the right way and develop in the right way’.”
