Florentino Perez has not given up on Bayern Munich superstar amid contract renewal talks

Real Madrid have not abandoned their interest in Michael Olise, with Florentino Perez continuing to monitor the Bayern Munich winger’s contract situation ahead of a possible move next summer, reports Defensa Central, 

It is known that Bayern are working on a new contract for Olise, but the France international is seeking a release clause as part of any extension. 

That detail could be crucial for Real Madrid, who want to know whether a future exit route can be established before deciding how aggressively to pursue the winger.

For now, Olise remains comfortable in Munich and appreciates the opportunity Bayern gave him, but the possibility of moving to the Santiago Bernabeu is understood to appeal to him.

Michael Olise transfer: Real Madrid waiting on Bayern clause

As such, Bayern’s renewal talks could determine whether Real Madrid have a realistic path towards signing Olise.

Real Madrid are still keeping an eye on Michael Olise. (Photo by Dean Mouhtaropoulos/Getty Images)

The German club rejected Real Madrid’s interest when the Spanish giants explored a deal last summer, but the situation could change if a release clause is included in a new contract.

The aforementioned outlet claims Real Madrid could be prepared to consider a figure approaching €200 million, although that should be treated as a potential valuation rather than a confirmed offer.

Real Madrid see Olise as a potential undisputed starter

Understandably, a move of that financial scale would come with significant expectations, as Olise would not be arriving at Real Madrid just to provide squad depth. 

Rather, he would be expected to become an undisputed starter, raising an obvious question about how the club would accommodate him alongside Vinicius Jr, Kylian Mbappe and Yan Diomande.

That competition would become even more complicated given Vinícius’ long-term contract, which runs until 2032.

Olise is in talks with Bayern Munich over a new contract. (Photo by Dean Mouhtaropoulos/Getty Images)

Madrid would therefore need to decide whether Olise is viewed as a direct starter in the long term or whether the squad can realistically support another elite attacking signing.

Olise could become Real Madrid’s next record signing

Real Madrid have already invested heavily in Diomande, who arrived for €125m plus €15m in potential bonuses.

If the club were to subsequently spend close to €200m on Olise, it would represent an extraordinary level of spending across two transfer windows and potentially make both players the two most expensive signings in Real Madrid history.

For now, though, all eyes are on Bayern’s renewal negotiations. If Olise secures the release mechanism he wants, Real Madrid could have a much clearer route to revisit their interest next summer.