'Activated release clause' –  Chelsea to follow Moises Caicedo transfer with another blockbuster deal

Olise, 21, was excellent for Crystal Palace last term and losing his attacking talents would further damage a team that lost talisman Wilf Zaha earlier this window to Galatasaray.

The France under-21 international is said to be keen on the move to Stamford Bridge for a fee believed to be in the region of £35m. Olise was the Palace player of the year last season and netted two goals and an impressive 11 assists. He was not in the Palace squad last Saturday as they opened the new Premier League campaign with a 1-0 victory at newly promoted Sheffield United.

Athletic football writer David Ornstein, posted: "Chelsea believed to have activated release clause in Michael Olise contract & expect to complete signing in due course. If deal finalised it would guarantee Crystal Palace £35m. 21yo recovering from injury."

The Olise move comes just hours after the Blues sealed the £115m signing of Moises Caicedo from Brighton and Hove Albion.

A deal for the midfielder was finally agreed late on Sunday night after a lengthy saga that saw Brighton knock back three bids for the 21-year-old.

He underwent a medical and agreed personal terms on Monday and has signed an eight-year contract with the club. Caicedo said: “I am so happy to join Chelsea! I am so excited to be here at this big club and I didn’t have to think twice when Chelsea called me, I just knew I wanted to sign for the club. It’s a dream come true to be here and I can’t wait to get started with the team.”

With a reported ongoing interest in Southampton midfielder Romeo Lavia and an admitted need for another striker following Nkunku’s injury, Todd Boehly’s Blues could be on course for a total outlay topping £1billion within 15 months of their takeover.