Bayern Munich have completed the signing of Michael Olise from Crystal Palace for about 60 million euros (£50m).

Bayern announced this in a statement on Sunday.

“FC Bayern have signed Michael Olise. The 22-year-old forward moves to Munich from English Premier League club Crystal Palace on a five-year contract valid through to 30 June 2029,” the club noted.

Bayern sporting director Christoph Freund said: “Michael is quick, tricky, a goal threat and very versatile in attack. His goals and assists stats are already outstanding.

“At the age of 22, Michael is already very advanced, but is also hungry and still has a lot of potential. Fans come to the stadium to see players like Michael Olise.”

Speaking on the move, Olise said: “The talks with FC Bayern were very positive, and I’m very happy to now be playing for such a big club.

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“It’s a great challenge, and that’s exactly what I was looking for. I want to prove myself at this level and play my part in ensuring that we win as many titles as possible with our team in the coming years.”

Born in London, Olise came through the youth systems at Arsenal, Chelsea, and Manchester City before joining Reading, where he made his senior debut in March 2019.

He moved to Crystal Palace for the 2021/22 season, where he scored 16 goals and provided 25 assists in 90 competitive appearances.

Olise scored 10 goals in 19 Premier League appearances as Palace finished 10th in the table last season.

Through his mother, he has French citizenship and has opted to represent France at youth level, competing at last summer’s U21 European Championship and so far earning seven U21 caps (one goal).

The winger has been selected in the France squad for the Olympics that start in Paris later this month.

Chelsea and Newcastle United registered their interest in Olise earlier this summer but the winger has chosen to move to Germany, where he will work under Bayern’s new manager Vincent Kompany.

Bayern are also set to complete the signing of Fulham’s Joao Palhinha in a deal worth £42 million plus £4 million in add-ons.

The 28-year-old Portugal midfielder was close to joining Bayern last summer but a deal collapsed on deadline day.

England defender Eric Dier has also joined the Bundesliga club permanently after playing for them on loan from Tottenham Hotspur since January.

Bayern’s 11-year hold on the German title was ended by Bayer Leverkusen last season.

The Star