Chelsea were priced out of a move for Michael Olise, who has decided which club he will join in the summer transfer window.
The Crystal Palace star is one of the most in-demand Premier League players in the market right now after a series of outstanding displays last season.
Despite missing half of the campaign through injury, the inverted winger provided ten goals and six assists as the Eagles finished 10th in the table.
Chelsea made contact with Palace last week over potentially signing the England-eligible player and engaged in talks with his representatives.
However, it’s now emerged that the Blues do not have the funds to make a move happen. The Athletic report that they made “their strongest offer”, but “the finances involved were beyond reach”.
The report adds that Chelsea want to “create a more disciplined wage bill than in the past”, but reading between the lines it does seem that they have run out of rope after spending over £1bn on transfers since Clearlake Capital bought the club from Roman Abramovich in 2022.
That has opened the door for Bayern Munich, the club Olise has decided to join according to a separate report from The Athletic.
It is now expected that Bayern will reach an agreement with Palace for the 22-year-old, who will link up with former Spurs players Harry Kane and Eric Dier at the Allianz Arena.
German outlet BILD claim that Olise’s release clause is €65m, while he will cost them €13.5m in salary per year.
Newcastle United are also known to have contacted Palace about a move for the France youth international, while Manchester City and Man United have held an interest in the player.
Chelsea came close to signing Olise last summer, but he opted to remain at Selhurst Park, signing a new four-year-deal.
