Despite Chelsea’s interest, Michael Olise has committed his future to Crystal Palace by signing a new four-year contract, according to Eagles owner Steve Parish.

It was previously claimed that Chelsea had triggered a £35 million release clause in Olise’s prior contract with Palace.

The news comes the next day.

The U21 international from France, who is presently recovering from an injury suffered over the summer, has 11 assists and two goals for the Eagles in his previous campaign.

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Roy Hodgson, the Palace manager, stated on Thursday : “It’s the best possible news we could have.

“The decision has been his. I congratulate Steve Parish and [sporting director] Dougie Freedman on a fantastic job.”

The news is disappointing for Chelsea, who recently reached high-profile agreements to pay a combined £173 million for Brighton’s Moises Caicedo and Southampton’s Romeo Lavia.

After the Reds reached agreements with their former teams, both players had the option of joining Liverpool, but they chose to join Chelsea.

Wilfried Zaha went for Galatasaray on a free transfer, but Palace was able to avoid losing another important player.

To acquire defender Lewis Hall on a long-term basis, Newcastle and Chelsea are now in advanced negotiations.

A fee of around £30 million is being spoken about.

Although the arrangement is “edging closer,” according to Sky Sports News, there is still work to be done on the charge, payment schedule, and add-ons.

The 18-year-old and the Blues recently reached an agreement in principle on a new long-term contract.

Hall made his Premier League debut for Chelsea last season and went on to make nine appearances in the top tier. Hall has played for England’s U21 team.