Chelsea are set to sign winger Michael Olise from Crystal Palace after activating a release clause in his contract worth around £35million.

London-born Olise recorded 11 Premier League assists for Palace last season and signed for the Eagles from Reading on a five-year deal in 2021.

Olise, 21, was a member of Chelsea’s youth system before leaving aged 14.

He is currently recovering from a hamstring injury he picked up while playing for France in the European Under-21 Championship.

The winger enjoyed an impressive 2022-23 campaign for Palace in which he registered 11 assists and scored two goals in 37 appearances and was named the club’s Player of the Year.

Olise would join eight senior arrivals at Stamford Bridge this summer, led by the signing of Ecuadorian midfielder Moises Caicedo, who joined from Brighton for a fee of £100m which could reach a UK club record of £115m.

Axel Disasi, Christopher Nkunku, Nicolas Jackson, Lesley Ugochukwu, Angelo Gabriel, Robert Sanchez and Diego Moreira have also joined the London club.

Caicedo was the 22nd player signed by Chelsea on a fee since US investor Todd Boehly and his Clearlake Consortium took over in May 2022 and bring the new owners’ total outlay to nearly £900million.

New Chelsea boss Mauricio Pochettino has been tasked with overhauling the squad and significantly improving on last season’s 12th place finish in the Premier League.

Mateo Kovacic, Edouard Mendy, Kalidou Koulibaly, N’Golo Kante, Mason Mount, Kai Havertz, Christian Pulisic, Ruben Loftus-Cheek, Ethan Ampadu, Pierre Emerick-Aubameyang, Abdul Rahman Baba and former captain Cesar Azpilicueta have all left until ‘now. summer.

Chelsea opened their Premier League season with a 1-1 draw at home to Liverpool last Sunday.

Find the full list of summer transfers on our dedicated page.