Arsenal vs Liverpool Race for £152m Michael Olise Transfer

Arsenal eye £152m Michael Olise as they join Liverpool in transfer race

Arsenal have joined Liverpool in the race to sign Bayern Munich winger Michael Olise, who is valued at £152 million, according to Fichajes. The Gunners want a right winger as Bukayo Saka's form regresses, while Liverpool see Olise as a Mohamed Salah replacement.

Target: Michael Olise, Bayern Munich winger, valued at £152m
Clubs in race: Arsenal and Liverpool, per Fichajes
Arsenal reason: Right winger wanted after Bukayo Saka's form dropped
Liverpool reason: Direct replacement for Mohamed Salah
Player's contract: Bayern deal runs until June 2029
When: A move could be considered next summer

Deal details

Arsenal are prepared to enter the transfer market for a right winger and have identified Michael Olise as a possible acquisition, according to Fichajes. The 25-year-old is valued at £152 million, the report states, and Liverpool are also keen on signing the French international.

Olise has a contract with Bayern Munich until June 2029. Bayern intend to prolong his stay at the Allianz Arena sooner rather than later, and the report adds that they are under no pressure to sell him despite interest from Arsenal and Liverpool. No fee has been agreed and no formal bid is reported.

Fichajes frames the Arsenal interest as potentially exploratory. It adds that Liverpool could trump the Gunners for the 25-year-old's signing next year, with the former Crystal Palace forward possibly entertaining thoughts of returning to England next summer.

The numbers

£152 million — the valuation placed on Michael Olise
Eight goals and four assists — Olise's form this year, per the source
12 G/A — the combined attacking return referenced
June 2029 — expiry of Olise's Bayern Munich contract
25 — Olise's age
Five wins in six fixtures — Arsenal's Premier League start this season
3-0 — Arsenal's Champions League win over Lille at the Emirates Stadium

Transfer latest: Why Arsenal and Liverpool both want Olise

Arsenal's need is straightforward. They have begun their Premier League title defence with five wins from six fixtures, yet their offensive output remains a concern, especially with Bukayo Saka's form significantly regressing this year. The report says Arsenal would look to resolve that by signing a right winger.

Saka signed a new contract earlier in 2026 and remains one of the club's most crucial long-term stars. The same report states he will have a long rope to prove himself, meaning a left winger may be signed instead because that position also needs rebuilding. That tension is the crux: Arsenal want an elite wide player, but the identity of the position they prioritise is not settled.

Liverpool's interest is different. Olise would be a direct replacement for Mohamed Salah, and the report points to Olise's numbers this year to show how influential he could be. Liverpool have already surpassed the £100 million figure on a handful of attacking reinforcements in the last 12 months or so, and could set up a very lethal offensive department with Olise's purchase.

Bayern hold the strongest hand. Olise has a contract until June 2029, they want to extend it, and they are under no pressure to sell. That is why the £152 million figure matters: any buying club must test a valuation that Bayern have no immediate reason to lower. Liverpool's recent willingness to invest in lucrative signings is the main reason to believe they could trump Arsenal's interest, which may yet prove exploratory.

Both clubs would be rebuilding their flanks with one of the world's best players if they got him. As it stands, the report fairly suggests Andoni Iraola's side could beat the Gunners to the 25-year-old's signing next year. That line is the most striking part of the story and it points towards Anfield as the more probable destination if Olise does return to England.

Talking points

Is £152 million sensible for a 25-year-old when Arsenal already have Saka signed long-term? Paying that fee would force a rethink of the pecking order.
If Liverpool sign Olise as Salah's replacement, does that end Salah's time at Anfield? It would be the clearest succession signal yet.
Should Arsenal prioritise a left winger instead, as the report suggests, rather than spend the bulk of a budget on a right-sided player?
Would Olise actually leave Bayern? They want to extend him and feel no pressure to sell before June 2029.

What happens next

No bid, fee agreement or medical is reported, so the next realistic decision point is next summer's transfer window, when Olise could consider a Premier League return if Bayern have not extended his deal. Until then, Bayern's contract talks are the key indicator. Arsenal's pursuit of a wide attacker and Liverpool's succession planning for Salah are the two situations to track.

Frequently asked questions

Are Arsenal signing Michael Olise?

Not yet. Arsenal are reported to have identified Olise as a possible acquisition and are prepared to enter the transfer market for a right winger, but no deal or bid is confirmed.