Michael Olise is set to take home an estimated £220,000-a-week ($280,000) wage at Bayern and more than double his current wage at Palace, according to Christian Falk.

The winger had seemed set on a move across the capital to join Chelsea, but Bayern swooped in to trigger the £55m release clause in the player’s contract.

The French under-21s international turned down Chelsea, Newcastle and a massive new offer from Palace to join Vincent Kompany at Bayern.

The German giants have met the south London club’s release clause of £55m while the winger will bank wages of £220,000-a-week.

It is the second time Olise has decided against joining Chelsea while it is understood Palace did everything to keep their star player.

Although the departure is a blow for Palace, manager Oliver Glasner will have funds to bring in new players.

Transfer expert Fabrizio Romano revealed that personal terms have been agreed on a five-year deal.