Explained: Michael Olise DIDN'T reject Chelsea - this is why £35m move collapsed despite release clause being triggered

• Olise looked set to join Chelsea
• Winger ends up signing new Palace deal
• Blues back off move after threat of legal action

WHAT HAPPENED? Olise looked to be heading to Chelsea after the Stamford Bridge club reportedly activated his £35m ($45m)release clause this week. However, on Thursday, the 21-year-old signed a new four-year deal with Palace.

WHY DIDN'T IT HAPPEN? According to Fabrizio Romano, the Eagles considered going to a tribunal with Chelsea over their approach for the France Under-21 international - something they were reportedly unhappy about. As a result, the west London outfit pulled out of a move and Olise extended his stay at Selhurst Park.

IN TWO PHOTOS:

Getty Images

Getty Images

THE BIGGER PICTURE: Chelsea have largely got their way in the transfer market this summer. While they had to pay more than they wanted for Brighton's Moises Caicedo and are set to win the race for Southampton's Romeo Lavia, with the midfielders costing a combined £173m ($221m), they have beaten Liverpool to their signatures. They have also recouped more than £200m ($255m) from player exits in the past month or two, but Olise is one player that got away.

WHAT'S NEXT? The transfer window shuts on September 1 so both sides have time to strengthen their squads within the next couple of weeks.