Bayern Munich close in on Michael Olise signing from Crystal Palace for £55m

Bundesliga side prepared to meet player’s release clauseChelsea believed to have pulled out of race over costs

Bayern Munich are closing in on the signing of Michael Olise after Chelsea once again admitted defeat in their pursuit of the Crystal Palace forward.

Olise is understood to have agreed personal terms for a move to join Bayern, with the German club now expected to meet his release clause of around £55m having held talks with Palace officials over the last few days.

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