21-year-old has just signed a new contract with his club, hours after agreeing to join Chelsea

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Michael Olise has just signed a new contract with Crystal Palace – hours after he agreed to join Chelsea.

The news was announced by Steve Parish – Chairman of Crystal Palace – on Instagram.

So, what is the situation involving Michael Olise and Chelsea? Let’s take a look…

What’s the story?

Well – according to Fabrizio Romano – the Londoner told Chelsea he was ready to make a move to Stamford Bridge after the Blues triggered his £35m release clause.

Crystal Palace were very unhappy with Chelsea for their handling of the situation – as detailed by the Daily Mail – and considering reporting the Blues to the Premier League for tapping Olise up.

Nevertheless, despite Crystal Palace’s annoyance, a deal for the France Under-21 international still looked set to happen. Until now.

Earlier today (Thursday), Parish dropped a bombshell on Instagram by announcing that Olise has signed a new four-year contract at Crystal Palace, effectively ending talk of the winger joining Chelsea.

In fact, the news came just moments after the Guardian claimed that Crystal Palace were thinking about taking Chelsea to court over the situation.

Who Chelsea could turn to after Michael Olise drama

Well, nobody saw this coming – to say the least.

Olise looked certain to follow Moises Caicedo to Stamford Bridge in the coming days, but Chelsea will now need to change their plans after the 21-year-old committed himself to the south Londoners.

One alternative is Mohammed Kudus of Ajax.

According to the Evening Standard, Chelsea have spoken to the Ghana international, and he is keen to leave Amsterdam this summer.

The Blues have also been linked with a move for Lyon wonderkid Rayan Cherki.

Be sure to keep an eye on this situation, as Chelsea must now start to look for an Olise alternative following Parish’s dramatic revelation.