Real Madrid–Olise transfer: Bayern pact and Mbappe link complicate major move

Real Madrid’s pursuit of Bayern Munich winger Michael Olise has moved beyond mere transfer-window gossip – but a private non-aggression pact between the two giants and Bayern’s own renewal plans are placing serious obstacles in the way.

Reports in Europe say Olise is now strongly inclined to join Real Madrid after the 2026 World Cup, a preference that has only firmed up during the tournament thanks to his close relationship with France team-mate Kylian Mbappe.

German outlet Bild reported recently that Mbappe has gone further than simply praising Real Madrid to Olise. He is said to have informed Real president Florentino Perez directly of the Bayern winger’s desire to move to the Bernabeu, stressing that the 24-year-old would be a major asset to the Spanish champions’ long-term sporting project.

However, according to French outlet Foot Mercato, Madrid’s path to any deal is blocked at the first hurdle by a gentleman’s agreement between the presidents of the two clubs.

Quiet pact slows Real Madrid approach

Foot Mercato reports that Florentino Perez and Bayern Munich president Herbert Hainer have an unwritten understanding that neither club will open talks with a player from the other side before officially notifying the player’s current club.

The site explained: “لهذا السبب، لم يتواصل ريال مدريد حتى الان، بشكل رسمي، مع بايرن ميونخ او مع اوليسي وممثليه، وما زالت المفاوضات بعيدة عن مرحلة العروض الرسمية”.

That arrangement means Madrid have so far made no formal contact with either Bayern or Olise’s camp, despite Mbappe’s lobbying. Any negotiations remain at a very early, informal stage, far from concrete offers or advanced talks.

For Perez, the political dimension is significant. Maintaining strong institutional relations with Bayern – another member of Europe’s traditional elite – has long been a strategic priority, and the Real president has shown little inclination to engage in open transfer warfare with the German champions.

Bayern move to lock down star winger

While Madrid weigh how and when to act, Bayern are not standing still. The Bundesliga club are already working to keep Olise at the Allianz Arena for the long term.

Olise’s current contract runs until the summer of 2029, but Bayern are reportedly preparing an improved deal that would substantially raise his salary from around €14m per year to close to €25m. The offer would also be accompanied by assurances over the club’s sporting ambitions in the coming seasons, as Bayern seek to reassert their status in both the Bundesliga and the Champions League.

Foot Mercato says Olise is set to hold a decisive meeting with Bayern’s hierarchy once he returns from World Cup duty. In that session, the player will listen to the club’s sporting project and vision for the next few years before making up his mind on whether to commit his future to Munich or push for a new challenge.

Player decision key to Perez’s next move

What happens in that meeting is expected to shape the entire saga. According to the same reports, those talks will determine whether the 24-year-old formally asks to leave Bayern this summer – a move that would fundamentally change the dynamic of any negotiations.

For Florentino Perez, such a request is seen as a non‐negotiable condition before Real Madrid put serious money on the table. The Real president is understood to want a clear signal of the player’s intentions, both to respect the informal pact with Bayern and to strengthen Madrid’s hand in any discussions.

That stance also ties back to Perez’s most recent presidential campaign, during which he is said to have promised members and supporters that he would be ready to authorise a major financial outlay to secure top-level attacking talent, provided the circumstances were right.

For now, though, Real Madrid’s interest in Michael Olise remains real but restrained – reliant on a delicate balance of personal desire, inter-club diplomacy and Bayern Munich’s determination to keep hold of one of Europe’s most coveted wide forwards.