“We are going to make a €150 million bid for a player from a Champions League club. Florentino Pérez dropped a bombshell during his campaign on Horizonte, the show hosted by Iker Jiménez. When asked directly about Bayern’s Michael Olise, the Real Madrid president denied it — but the offer was ultimately directed to Atlético Madrid for Julian Álvarez, prompting ridicule from the club on social media.
But things are not always as they seem. At this point, it seems clear that the move for Julian was a bluff, designed more to complicate Barcelona’s pursuit of the Argentine than a real attempt to sign him – especially given Florentino’s increasingly aggressive stance towards Barcelona in the “Negreira affair.”
In reality, all signs point to Michael Olise, the standout player of the Champions League season and part of Bayern’s devastating attacking trio alongside Harry Kane and Luis Díaz. He ticks several boxes that would make him an ideal signing for Madrid: a natural partnership with Kylian Mbappé (as seen in France’s opener against Senegal), a right winger – a position Madrid lack – and the charisma and poise to counter Barcelona’s ‘Lamine effect’.
It won’t be easy. Bayern is not known as a selling club.
“If Florentino Pérez wants to send us an offer – which he hasn’t done yet – he can save himself the trouble,” club president Herbert Hainer said when Olise first emerged as a Madrid target.
Madrid still have that €150 million ready, but it could cost significantly more to pry Olise from Bayern. In fact, the club could push the offer above 200 million euros, possibly up to 220 million euros.
Of course, Madrid’s resources are not unlimited despite its strong financial position. Therefore, a major departure in midfield is not out of the question for next season. The defense is being reshaped (Carvajal and Alaba are already gone), while the attack is considered untouchable, with Mbappé, Vinícius and Bellingham seen as pillars going forward. As a result, players like Fede Valverde or Aurélien Tchouaméni could be on the market, especially after their recent clash with Valdebebas has seen both.
Will an offer north of 200 million euros be enough? One thing is clear in football: players end up playing where they want. And Olise has a powerful sponsor in Madrid — Kylian Mbappé. After becoming France’s top scorer, he had nothing but praise for the Bayern winger:
“With Michael, it’s very easy, because he always keeps his head up. You just have to offer him an opportunity and he finds you. I already knew that and it was really great.”
That connection was evident in France’s win over Senegal, with Olise assisting Mbappé with a perfectly timed through ball – a natural link that Real Madrid lacked last season.
Enzo, special ops
The move for Olise – Florentino’s dream target – is separate from the pursuit of Enzo Fernandez, who the club see as a lower-priced deal. The Argentine’s desire to join Madrid is well known, as are the problems he faced last season at Chelsea, even being sidelined after publicly indicating his interest in the Spanish giants.
Madrid know Enzo will not come cheap, but the deal is seen as more feasible than Olise, given Bayern’s tradition of keeping hold of their stars and their ability to match Madrid financially.
Different operations, but both underway – aiming to complete an ambitious 2026-27 project with José Mourinho as manager, three confirmed signings (Cucurella, Bernardo Silva and Konaté) and a fourth on the way (Dumfries), with at least two additions expected to build a team that can compete for everything.