Bayern Munich move to extend Olise's contract as Real Madrid prepare £190m world-record bid

Bayern Munich are pushing to tie Michael Olise to a new five-year contract, with club president Herbert Hainer insisting the Bundesliga champions will not entertain offers for the 24-year-old despite Real Madrid reportedly preparing a world-record bid of £190 million.

Olise, who joined Bayern from Crystal Palace for up to £51 million in July 2024, enjoyed a sensational debut season at the Allianz Arena — registering 15 goals and 21 assists in 32 Bundesliga appearances as Bayern retained the title, earning him the Bundesliga Player of the Year award in the process. He has carried that form into the World Cup, contributing two assists in France’s 3-1 victory over Senegal.

The proposed new deal would see Olise’s salary rise from £13 million per season to £22 million — a figure Bayern believe would exceed what Real Madrid could offer. Hainer made the club’s position unambiguous in comments to Bild: “Michael Olise is a Bayern Munich player who still has a long-term contract — and we are not a club that sells players. If Florentino Perez wants to send us an offer — which hasn’t happened yet — he can save himself the trouble.”

Olise currently has a contract running until 2029, but Bayern are keen to extend that commitment further amid mounting speculation linking him with Real Madrid, Liverpool, and Paris Saint-Germain.

Former Bayern chief executive Karl-Heinz Rummenigge reinforced the club’s stance by invoking the Franck Ribery precedent. “In 2009, we had an incredible offer from Chelsea for Ribery — at the time it would have been a new world transfer record,” Rummenigge recalled. “That day, we made a fundamental decision: that in the future, we would never sell a player we would miss on the pitch. And this unwritten rule still applies today. For a player like Olise, there’s no price tag that would make us flinch.”

Rummenigge was equally effusive about Olise’s character, describing him as “almost media-shy” and adding: “The way he plays football is almost magical. So it doesn’t surprise me that he’s incredibly popular among our fans.”

Whether Bayern’s determination to keep Olise proves sufficient to deter Real Madrid — who have a history of pursuing targets with persistent, record-breaking offers — remains to be seen as the summer window approaches.