Bayern Munich are set to sign Michael Olise after the Crystal Palace winger decided to join the Bundesliga giants.

Bayern, Chelsea and Newcastle had all contacted Palace earlier this month to register their interest in the 22-year-old.

A deal was expected to be complex, with Olise's release clause worth in the region of £60m, and percentages of any transfer due to Palace, the player himself, and his former club Reading.

Chelsea are understood to have had concerns about the overall cost of the deal.

They had unsuccessfully attempted to sign the France Under-21 international for a fee in the region of £35m last summer, thinking they had activated his release clause.

He subsequently signed a new four-year deal at Selhurst Park, lasting until 2027.

Olise has been picked in the France squad for the Paris Olympics, which start in July.

He scored 10 goals in 19 appearances for Palace last season, having missed several games with a hamstring injury.

Manchester United had previously shown an interest in Olise but are focusing on targets in other positions. (BBC)

Olise scored 10 goals in 19 Premier League appearances for Palace last season