Michael Olise has completed his transfer from Crystal Palace to Bayern Munich.The Bundesliga side will pay £50.8 million (60 million euros) including add-ons to bring the 22-year-old to the Allianz Arena. The French player signed a 5-year contract with Bayern.

Olise said: “The negotiations with FC Bayern are very positive and I am delighted to play for such a big club.”

It was a great challenge and 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 trophies as possible as a team in the years to come.”

Olise was a target for both Chelsea and Newcastle this summer, but he chose to join Vincent Kompany’s side.

Bayern sporting director Max Eberl said: “Michael Olise is a player who can make a difference and attract great interest with his style of play.”

“We want new dynamics in the team, new energy, new ideas – that’s what a player like Michael Olise represents.”