17 August 2023 , 12:04
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Michael Olise has committed his future to Crystal Palace by signing a new contract, despite Chelsea activating his release clause.
Palace chair Steve Parish confirmed the surprise news on Thursday afternoon. He said: "I'm absolutely delighted to announce Michael Olise has decided to commit his future to Crystal Palace football club and this afternoon signed a new four-year deal."
Olise, 21, was widely expected to join Chelsea after they activated his £35million release clause. The Blues are trying to sign the most exciting young footballers in the game, with the likes of Enzo Fernandez and Moises Caicedo joining the club since January.
Yet Olise, who spent seven years in Chelsea's academy, doesn't want to return to Stamford Bridge. His decision to stay at Selhurst Park is a huge boost for Palace, who have already lost one talismanic winger this summer after Wilfried Zaha's move to Galatasaray.
It's believed Olise will be paid £100,000-a-week by Palace after signing his new four-year contract. Roy Hodgson, who described the player as "wonderful" in April, urged Parish to keep the Chelsea target and fellow winger Eberechi Eze at Selhurst Park.
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Hodgson said about Olise's new 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.
"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... For me, of course, it is a red letter day."
The London-born star, who represents France at international level, graduated from Reading's academy after spells with Arsenal, Chelsea and Manchester City. He quickly made a name for himself after making 73 first-team appearances for Reading.
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Olise was named as the Championship's Young Player of the Season and Reading's Scholar of the Season during his time in Berkshire. That persuaded Palace to activate his release clause two years ago and he's gone on to make 63 Premier League appearances.
Olise has won a host of individual prizes during that time. His stunning free kick against Manchester United in January won him the Premier League's Goal of the Month award. The talented youngster is also Palace's reigning Players' Player of the Year.
Chelsea are now expected to target Nottingham Forest forward Brennan Johnson after Olise's snub. The Blues are interested in signing the Wales international, 22, after he scored eight goals during his debut Premier League campaign at the City Ground.
Johnson is capable of playing both on the wing and down the middle. He scored 19 goals during the 2021/22 season to help Forest win promotion from the Championship and is unlikely to come cheap, as he still has three years remaining on his contract.