"Agreement close...": Ornstein drops huge CPFC update that supporters will love - opinion

Crystal Palace are believed to be nearing a contract agreement with forward Michael Olise, according to journalist David Ornstein.

The respected insider revealed via Twitter that the two parties are “close” to agreeing a new deal, writing of the situation that:

“Crystal Palace in talks with Michael Olise over new contract. Agreement close. Extra year likely but no salary increase. Aim is to raise release clause (£35m) to ensure future sale breaks #CPFC record (£50m) & that would benefit all.”

In his Athletic column on Monday, Ornstein went into further detail about the situation, insisting that the 20-year-old ‘wishes to stay’ at Selhurst Park and will agree to a new one-year extension on his existing deal, with the main aim of the new agreement seemingly to raise his current release clause (£35m) to ward off any potential interest.

This news follows reports earlier this week that suggested clubs were interested in taking advantage of that clause to strike a deal this summer, although any suitor will now likely have to stump up more than the £50m that the club received for the sale of Aaron Wan-Bissaka to Manchester United in 2019.

There will be many of a Palace persuasion breathing a hefty sigh of relief at present, with it looking as if the Eagles have been able to swiftly curtail any notion of a departure by striking a new deal.

The London-born France U21 international has become such an integral asset following a stunning debut campaign in the Premier League, having been snapped up for a bargain fee of just £8m from Championship outfit Reading last summer.

After a slow start to life under manager Patrick Vieira due to injury, the £19.8m-rated starlet has come alive since the turn of the year, chipping in with four