Here’s the actual reason why Chelsea withdrew out of the deal to sign Michael Olise from Crystal Palace

According to reports, Chelsea has opted not to pursue their interest in Crystal Palace winger Michael Olise any further and has cancelled the agreement.

Manchester United, Liverpool, Manchester City, and other clubs were also interested in the Frenchman, who the Blues identified as one of their primary targets during the summer transfer market.

However, according to a report released yesterday, Palace is now anticipated to reach an agreement with German powers Bayern Munich, who are overseen by Vincent Kompany. It is unlikely that personal terms with Olise will be a factor in the negotiations.

Olise was on the brink of joining Chelsea last summer, but he ultimately opted to sign a new contract at Selhurst Park, which resulted in an increase in his buy-out clause. In 2023/2024, he made 19 appearances and scored 10 goals, with six assists.

David Ornstein of The Athletic has verified on Saturday that Chelsea have withdrawn from the process of signing Olise after contacting Palace on Thursday to express their interest in the winger.

The following was added by Ornstein:

Chelsea expressed their desire for an outcome by the conclusion of this week, and Chelsea was granted that request.

Chelsea made what they believed to be their most compelling offer; however, they ultimately decided not to proceed due to the financial implications.

The Stamford Bridge hierarchy is striving to establish a more disciplined wage bill than in the past. If a transfer target does not align with this goal, they would prefer to reward current players who demonstrate superior performance over time or invest in new exceptional talent at more reasonable salaries.

Chelsea’s pursuit of Olise for the second summer in a row is undeniable; however, the conditions must be met due to the potential impact on their squad balance and depth.

Connor Gallagher has been the subject of significant speculation regarding his potential departure from Chelsea this summer. There are rumours that the Blues may consider selling him in order to comply with the Premier League’s profitability and sustainability regulations.

However, Emmanuel Petit, a former Chelsea midfielder, believes that Gallagher should remain at the club due to the scarcity of English players.

Petit stated, “I believe it is an incorrect decision; he is of English descent!” It is crucial for the supporters.

“Chelsea has an abundance of foreign players.” I have been a member of the club, and I am aware of the significance that English players hold for the supporters.

“They will receive a substantial sum for Gallagher, but he is one of their most talented players!” They have the financial resources to sell four or five other athletes on the team.

Mauricio Pochettino was replaced by Enzo Maresca earlier this month; however, Petit believed that the Argentinian should have been given an opportunity next season. This was due to the strong conclusion of the previous campaign.

Petit expressed his disappointment, commenting, “I am extremely disappointed.” I am still uncertain as to the board’s intentions. I have admiration for the progress they have made thus far, including the expenditure of over £1 billion on the transfer market and the pursuit of numerous young, talented players. However, I have been informed that they may be required to sell Conor Gallagher in order to obtain FFP. I am perplexed by this prospect.

“I am aware that Pochettino faced a challenging season; however, the team has made significant strides in the past few months, and it is evident that certain players are significantly happier than they were at the beginning of the season.”

“I was considering allowing him to continue working with his staff. However, I believe that the stability of the club will be disrupted by the change of manager, the introduction of a new philosophy, and the movement of players in and out of the club.”

“They will perpetuate the same cycle, which is unsustainable. Consequently, they must derive lessons from it.”

Pochettino’s departure from the club was a source of great disappointment for me, as it differs from American athletics in that it requires stability.