Michael Olise has signed a new contact extension at Crystal Palace, a day after Chelsea activated his £35m release clause in his contract.
Chelsea were set to sign the 21-year-old after activating a £35m release clause in his contract, but Olise has decided to sign a new four-year deal instead.
Olise’s contract extension is a huge boost for the Eagles after the winger also attracted interest from Manchester City earlier in the summer window.
Palace chairman Steve Parish posted on social media: ‘I’m absolutely delighted to announce @m.olise has decided to commit his future to Crystal Palace football club and this afternoon signed a new four year deal with the club.’
Roy Hodgson, the club’s manager, added: ‘It’s the best possible news we could have. The decision has been his [Olise’s]. I must congratulate Steve Parish and Dougie Freedman on a fantastic job.’
Olise joined the south London side from Reading in 2021 and impressed last term with 11 assists in the top-flight – as he became the first Palace player ever to claim 10 or more in a Premier League season.
He was named the Crystal Palace Players’ Player of the Season for the 2022-23 campaign, with Chelsea and City keen to tempt him into a summer switch.