Crystal Palace winger Michael Olise has signed a new four-year deal, the Premier League club's chairman said on Thursday.
The 21-year-old has been at Palace since 2021 and had been linked with a move to Chelsea, who were reported to have activated his £35 million ($44.74 million) release clause.
“It’s Olise who decided to sign new deal with us — and I must congratulate Steve Parish and Dougie Freedman on a fantastic job”.
— Fabrizio Romano (@FabrizioRomano) August 17, 2023
Roy Hodgson confirms agreement on new four year deal for Michael Olise as Crystal Palace 🔵🔴 #CPFC
Chelsea deal, officially collapsed. pic.twitter.com/B5K6IcPUWP
Palace chairman Steve Parish made the announcement of Olise's new contract on his Instagram profile.
"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 with the club," his post read.
Olise joined Palace from Reading for £8 million after scoring seven goals in 44 appearances in the Championship (second-tier) in the 2020-21 season. His performances saw him win the EFL Young Player of the Season.
At Palace the French youth international has made 71 appearances in all competitions and scored six goals. Palace manager Roy Hodgson welcomed Olise's new deal.
"It's the best possible news we could have. The decision has been his (Olise's)," Hodgson said on the club website.
Olise missed Palace's 1-0 win at Sheffield United in their opening game of the season and will be out for a considerable period of time with a thigh injury according to the club.
Reuters