The staggering fee Reading will receive as Michael Olise 'agrees terms' for stunning Crystal Palace exit

Reading are set for a much-needed financial boost when Crystal Palace finalise the move for Michael Olise to join Bayern Munich in the coming weeks. The Hammersmith-born forward is currently with the French Olympic team, but Bayern Munich have informed Palace they’re willing to trigger his release clause.

The Telegraph is reporting that the fee for Olise will be around £60 million with terms agreed for the move, and with Reading having inserted a clause that sees them get at least 10% of the sell-on proceeds, they are in for at least £5 million.

Olise joined Palace for £8 million in 2019 and signed a new deal last summer after Chelsea looked to trigger his release clause, convincing him to give Palace one more season.

At Reading, he made 46 appearances for the Royals, scored seven goals, and made 12 assists before Palace came calling in the Covid-hit campaign. Even then, it was clear he was made for the top level, especially in the final Championship game of the season where he dazzled and left the pitch to applause from the fans in what turned out to be his final game for the club.

Reading's Much-Needed Boost

Reading are set for an imminent takeover but the Royals will need all the financial backing they can get, with current owner Dai Yongge turning off the tap. The club’s season ticket sales could help pay this month's HMRC, wages, and other bills, but those funds will be gone sooner rather than later. So getting at least £5 million from the Olise deal will help put the club in a strong position going into the 2024/2025 season.

For Palace, they will be hoping for a quick resolution and cash injection so they can bring in reinforcements to help manager Oliver Glasner, who has shown he’s more than capable of leading the team to the next level.