Michael Olise signs new Crystal Palace contract despite Chelsea transfer interest

Michael Olise has signed a new four-year contract with Crystal Palace.

The France Under-21 international, 21, has decided to stay at Selhurst Park despite strong interest from Premier League rivals Chelsea.

Manager Roy Hodgson said: “It’s the best possible news we could have. It’s a concern when a club of Chelsea’s stature takes an interest. It suggests a move to them might be the best bet. I’ve always hoped that wouldn’t be the case.

“His future here is very bright, we can help him move very quickly to another level. The decision has been his. We’re delighted.

“Congratulations to Steve Parish and Dougie Freedman who have done a fantastic job in persuading him that, despite the pressure from outside, this is where we think you can progress and develop in the right way.”

Chelsea were expected to sign Olise from Palace after triggering a release clause in his contract. That would have guaranteed Palace a £35million fee.

He is currently sidelined after tearing his hamstring at the Under-21 European Championship, which could prevent him from playing until the end of September.

“It was a nasty injury,” Hodgson added. “Wilf (Zaha) had the same injury and has just come back (with Galatasaray). We’re fortunate that he will be at the lower end of the scale because he’s kept himself very fit and worked hard.

“He wants to get back as quickly as possible. Whatever timescale it is I’m sure he will shave a bit off but it will be a while yet.”

Olise signed for Palace on a five-year deal from Reading in 2021 after Palace triggered a release clause in his contract.

He has since gone on to establish himself as an important player for Hodgson’s side and enjoyed an outstanding year for Palace in 2022-23, winning the player’s player of the season and the club’s goal of the season awards.

He became the first Palace player ever to claim 10 or more assists in a Premier League campaign and the youngest-ever player to claim three assists from open play in a single Premier League match, while his 11 assists ranked him fourth in the division.

How important is Olise for Palace — and what have Chelsea missed out on?

Olise has developed significantly over the last 12 months, becoming more defensively capable and influencing games more in attack.

Although an introverted and complicated character off the pitch to those with whom he is not familiar, he is extremely confident on it — a winger who enjoys drawing his man in, before moving the ball away, to then dart down the touchline and often cutting inside on his left foot.

His decision-making has also improved dramatically, learning better when to cross or take the shot on himself.

But he is still a work in progress and there is room for further improvement.

Olise departure would have left a considerable gap in Palace’s squad. Retaining his services is a significant coup for Palace, and a blow for Chelsea as they aim to bolster their attack.

His attacking talent is unrivalled in this Palace squad and no other player offers anything similar in style.