Michael Olise is reportedly close to signing a new deal at Crystal Palace that would see the release clause in his contract go up.
The 20-year-old winger has been one of the brightest sparks in Patrick Vieira’s youthful Palace side this season after signing in the summer from Championship side Reading for £8million. The France Under-21 international has four goals and eight assists across 31 games for the Eagles so far and has quickly become a fan favourite.
However, reports of there being a £35million release clause in his five-year contract began to spread in February, alerting Olise ’s growing number of suitors. Vieira didn’t deny the existence of the clause when asked about it shortly after, saying: “All I can tell you is Michael is a Palace player, and we love him. He is happy being with us and enjoying his football. Hopefully, he will be with us for a long, long period of time.”
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The release clause has been of concern to the club and supporters since it was first reported, but, according to The Athletic, steps are currently being taken to ensure Olise won’t be leaving for now. The winger is said to wish to remain at Crystal Palace, and negotiations have begun on terms of a new deal.
It is thought that the deal would add 12 months to his current contract and that Olise is not seeking a salary increase, while his release clause will raise to the point where Palace would receive a club record fee if they sanctioned a move for him to leave in the future.
The Eagles’ current largest transfer fee received was the £50million they took for academy graduate Aaron Wan-Bissaka in June 2019. Any discussions with Olise - which are expected to be finalised around the end of the current campaign - would ensure that Palace would charge a higher fee for his sale if such a scenario unfolded.
It marks a clear indication of how highly the club rate Olise and makes his £8million arrival from Reading last summer look like an even better deal than it had at the time, with the then-teenager ending his final campaign with the Royals by being named the EFL Young Player of the Year.
“When he was at Reading and talking to the manager (Veljko Paunovic) at the time, he really believed that Michael had that quality to play in the Premier League,” said Vieira in March. “It was just about creating this kind of place where he could keep improving himself. We knew how good he was. He arrived, and he was injured, so he had a difficult first couple of months – he couldn’t train, and he couldn’t play.
“He was really frustrated, but he managed to get back on the field, and his work ethic is unbelievable. He is a young player who wants to spend time on the field and wants to improve himself. The more games he plays, the more confidence he gets to perform at this level, and he has already earned the trust of his teammates. He is in a really good place – playing well, enjoying his football, and it is good for the team.”
