Reading’s incredible payout after Michael Olise ‘agrees terms’ for a spectacular Crystal Palace exit

When Michael Olise’s transfer to Bayern Munich is finalized by Crystal Palace in the upcoming weeks, Reading will receive a much-needed cash boost. The forward, who was born in Hammersmith, is presently playing for the French Olympic team, but Bayern Munich has let Palace know that they are prepared to activate his release clause.

According to The Telegraph, conditions for the transfer have been agreed upon, and Olise will fetch a fee of approximately £60 million. Reading will receive at least £5 million as a result of the clause they inserted stipulating that they will receive at least 10% of the proceeds from the sale.

Olise signed a new contract last summer after Chelsea attempted to activate his release clause and persuaded him to give Palace one more season. Olise joined Palace for £8 million in 2019.

Before Palace called during the Covid-hit season, he made 46 appearances for the Royals at Reading, where he scored seven goals and provided twelve assists. Even back then, it was obvious he was meant for the highest level, particularly during the season’s last Championship game when he shined and off the field to cheers from the crowd in what ended up being his last match with the team.

The Much-Needed Boost for Reading

Reading is poised to take over, but with current owner Dai Yongge shutting off the water, the Royals will need all the financial support they can get. Season ticket sales for the club may have contributed to this month’s HMRC, salary, and other expenses, but that money will run out sooner rather than later. Thus, obtaining at least £5 million from the Olise agreement will assist position the team for success in the 2024–2025 campaign.

In order to support manager Oliver Glasner, who has proven he is more than capable of taking the squad to the next level, Palace will be hoping for a speedy settlement and financial infusion.