Michael Olise extends contract with Crystal Palace amid interest from Chelsea

The quest of Chelsea Football Club to sign Michael Olise from Crystal Palace has collapsed just a few days before the transfer window closes.

The midfielder agreed to sign a contract extension amid interest from Chelsea and Manchester City. Palace's manager, Roy Hodgson, expressed his excitement at the pre-match press conference ahead of the game against Arsenal.

"It is the best possible news we could have, I had been concerned. It is always concerning when a club of Chelsea’s stature take interest in a player, and people will suggest that a move to them might be the best bet. I had always hoped that wouldn’t be the case and that Michael would realise that at such a young age his future here is very bright, and we can help him move very quickly on to another level. I am delighted for the club, and I must congratulate Steve Parish and Dougie Freedman on the fantastic job they have done in persuading him that, even though there was pressure from outside, 'this is your place and this is where we think you will progress in the right way and develop in the right way".

There were initial reports that Crystal Palace were ready to go to a tribunal because of the way Chelsea approached Micheal Olise. The club's Chairman Steve Parish is said to be unhappy about their conduct.