Chelsea and Liverpool 'braced for £87million Michael Olise transfer battle'

CHELSEA and Liverpool are reportedly set to battle for Bayern Munich star Michael Olise next summer.

Olise joined the German giants from Crystal Palace last year and has been a huge hit in the Bundesliga .

2 Michael Olise is reportedly being chased by Chelsea and Liverpool Credit: Getty

2 Arne Slot and Enzo Maresca could have to pay £87m to sign the winger Credit: The Times

He scored 20 goals in all competitions in his first season and assisted another 17 as he helped the team win the title.

The 23-year-old enjoyed three successful years at Palace and turned heads in the Premier League before opting to play for Vincent Kompany in Germany.

But now Olise's is wanted back in England, with Liverpol leading the chase for the France international.

German outlet Bild claim the Reds are eyeing up the winger as a big-money signing next summer and see him as a long-term replacement for Mohamed Salah .

But it says they will face "intense" competition from Premier League rivals Chelsea , who regret not pushing to sign him when they had the chance.

Manchester City are also among the clubs monitoring the player's progress, it says.

Previously, Manchester United were strongly linked with Olise, but have likely slipped out of the race for now amid their poor run under Ruben Amorim.

Any interested club would have to fork out a huge fee to snap up Olise, with his value now skyrocketing to £87m.

Liverpool have shown they are not afraid to splash the cash after sanctioning an incredible summer spend of more than £400m.

They brought in the likes of Florian Wirtz and Alexander Isak - the latter arriving for a British record fee of £125m.

Bayern will be wary of the Premier League's spending power after being beaten by Liverpool in the race to sign Wirtz, but they are hopeful they can persuade Olise to stay.

The same report claims they are planning a contract extension until 2031 for the player and want to give him a significant pay rise to fend off interested teams.

Olise is having an incredible season so far, with four goals and four assists in all competitions.

He scored and assisted twice in a 5-1 thrashing of Pafos in the Champions League in midweek, highlighting how far he has progressed as a player.

Bayern chiefs have made it clear how highly they rate Olise and Max Eberl recently said he could "shape the future of this team".

He said: "Michael has already made a big impression in his first season. He's the kind of player who draws fans to the stadium; it's just fun to watch him play football.

"He still has over three and a half years left on his contract, will become an increasingly decisive factor in FC Bayern's play and shape the future of this team – as far as we're concerned, the longer the better."

Meanwhile, president Herbert Hainer hailed him for "stepping up to the elite".

He added: "A year ago, Michael Olise was still a relatively unknown quantity – today, the whole world knows him.

"Signing him has proven to be a real coup, and he has made the step up to the international elite at FC Bayern within a very short time.

"He is one of the faces of the new FC Bayern, and we hope he will remain so for a long time to come."