Real Madrid had been linked with Olise for some time, though they have not moved to make a concrete offer. Their cautious approach during the last transfer window was partly out of respect for their relationship with Bayern, and they have yet to convert admiration into a formal bid. Olise, meanwhile, is enjoying life in Munich and values the opportunities Bayern has provided, even though a move to Madrid would naturally appeal to him.
Negotiations face a critical hurdle: Olise is reportedly seeking a release clause as part of any renewal. Bayern’s current terms do not include such a clause, which would give the club substantial control over any future transfer. If a new contract cannot be agreed under similar conditions, Bayern could face the prospect of selling him next summer rather than risking a less favorable deal later on.
In summary, Real Madrid must decide whether to escalate their pursuit with a concrete offer. Absent a decisive push from Madrid, the momentum suggests Olise may remain with Bayern, at least in the short term, as talks continue toward a potential extension.