Inside Bayern Munich and Real Madrid's Olise agreement
Bayern Munich and Real Madrid operate an informal presidential pact: neither club will pursue the other's players without first notifying the other—a backchannel understanding that helped defuse frenzied Michael Olise transfer rumors after Madrid publicly denied any contact amid reports of a record bid exceeding €200 million. Presidents Herbert Hainer and Florentino Pérez spoke privately to settle the standoff, while Olise remains contracted to Bayern until 2029.
Key Takeaways
- Real Madrid issued a June 20 statement denying any direct or indirect contact with Michael Olise or his representatives.
- Bayern's Herbert Hainer and Madrid's Florentino Pérez maintain a presidential pact not to poach each other's players without notice.
- Media reports linked Madrid to a bid north of €200 million, while Pérez had pledged a €150 million galactico signing if re-elected.
- Olise has no release clause and is under contract at Bayern until 2029, giving Munich full leverage.
- Both clubs say they want to avoid media-driven bidding wars over marquee targets like Olise.
Why did Real Madrid deny interest in Michael Olise?
As Olise rumors spiked over the past month, Real Madrid was compelled to issue a public statement shutting down the speculation. On June 20, the club said it had not had any direct or indirect contact with the 24-year-old winger, his representatives, or anyone in his circle.
The denial followed widespread reports that Madrid was weighing a bid of more than €200 million (£173 million) for the France international. According to BBC Sport, Real also highlighted its excellent institutional relationship with Bayern and regretted speculation that does not correspond to reality.
The statement added that any potential interest in a player belonging to the other club must be addressed first between the entities themselves. That language pointed to a deeper understanding between two of Europe's most powerful clubs.
What is the Bayern-Real Madrid presidential pact?
Embedded in Madrid's denial was a detail Bayern and Real had not formally disclosed before: an informal agreement between their presidents not to make a move on a player from the opposite club without notifying the other first.
Reports at the beginning of June that Pérez was planning to bid for Olise caused irritation at Bayern, especially after the Madrid president publicly announced he would bid €150 million for a superstar if re-elected. Hainer responded firmly in public, making clear Olise was not available.
Hainer and Pérez, who grew closer around their Champions League quarter-final meetings, did not want the Olise situation to escalate. They spoke privately and put the matter to rest. Both clubs also do not want to fuel bidding wars through media-driven transfer rumours—a dynamic that echoes how blockbuster deals can ripple through global markets, as we track in our Fintech & Crypto Alerts section.
How big was the reported Olise bid?
Sports Illustrated reported that Madrid could make a renewed push for Olise later in the summer with a bid potentially worth as much as $230 million (€200 million). Multiple outlets suggested Olise was the true dream target of Pérez, despite Los Blancos' €150 million offer for Atlético Madrid striker Julián Álvarez being rejected.
Pérez won 65% of the presidential vote earlier in June to extend his tenure until 2030, having pledged that record galactico signing as part of his campaign. Bayern leaders have insisted there is no price tag that would make the club flinch on Olise.
Can Real Madrid still sign Olise this summer?
For now, the answer appears to be no. Olise is under contract in Munich until 2029 and does not have a release clause, so Bayern hold all the cards. Behind the scenes, the two clubs have achieved clarity on the matter, and the presidential pact means Madrid would not attempt a move without first informing Hainer.
Olise scored 22 goals and contributed 31 assists for Bayern in 2025-26 and is starring for France at the 2026 World Cup, where he assisted Kylian Mbappé's opener in a 3-1 win over Senegal. Real, now led by José Mourinho, have already signed Bernardo Silva and Marc Cucurella this summer—but the Olise chapter looks closed for now.