Michael Olise completes £49.5m Bayern Munich transfer as Crystal Palace release classy farewell statement

MICHAEL OLISE has completed his £49.5million move to Bayern Munich from Crystal Palace.

The Eagles confirmed the transfer with a classy farewell statement.

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Olise, 22, spent three years at Selhurst Park after signing from Reading in 2021.

During that time, the winger scored 16 goals and provided 25 assists in 90 appearances.

However, he has now moved to the Bundesliga to join Vincent Kompany's side ahead of next season.

In a club statement, Palace chairman Steve Parish said: "We are hugely proud of what Michael has achieved at Crystal Palace, a club where he has developed greatly as a player.

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"We respect his desire to further test himself at the highest level of world football, and I would like to personally wish him the very best for his next adventure with Bayern Munich in Germany which I’m sure we will all follow closely."

The club also stated: "Everyone at the football club would like to wish Michael well for the next step in his career."

Olise is currently on international duty with the French Olympic team ahead of this summer's Games in Paris.

He is part of Thierry Henry's 18-man squad for the tournament, which begins on July 24.

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Reacting to his move, Olise told Bayern's social media channels: "The talks with FC Bayern were very positive, and I’m very happy to now be playing for such a big club.

"It's a great challenge, and that's exactly what I was looking for. I want to prove myself at this level and play my part in ensuring that we win as many titles as possible with our team in the coming years."

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The German giants finished third in the Bundesliga last season and reached the semi-finals of the Champions League.

Meanwhile, his former Chelsea academy team-mate Jamal Musiala welcomed him to the club via , exclaiming: "We used to play together in Chelsea academy, it was nice!

"He’s super talented, his skills are excellent. He has scored many goals at Palace so… I’m happy that he’s joining Bayern."

Olise becomes Kompany's eighth signing of a busy transfer window already for Bayern.

Eric Dier has completed a free transfer from Tottenham after his loan spell last season, with defender Hiroki Ito also signing from Stuttgart.

As for Olise, he could make his competitive debut against Ulm in the DFB Pokal on August 16.

Bayern begin their Bundesliga campaign away at Wolfsburg the following weekend.

TRANSFER NEWS LIVE: All the latest transfer deals from around the world this summer