Chelsea walked away from the signing of Crystal Palace star Michael Olise for two reasons, it has been claimed, with co-owner Todd Boehly quickly learning the financial realities of running a top club, but while also nearing the signing of a €65m alternative.

The Eagles winger has emerged as one of the Premier League’s most in-demand stars off the back of a brilliant couple of seasons at Selhurst Park and with a hugely-tempting £58m exit clause in his contract. Having scored 10 goals and added six assists from just 19 appearances this season – a goal contribution every 1.18 appearances – it is easy to see why Olise is such a desired asset.

And while Manchester United interest in acquiring the 22-year-old’s services has been well documented, it has been Chelsea who have led the chase for his signature.

Indeed, Boehly initially came close to signing Olise last summer, only for the winger to opt to stay at Selhurst Park and commit to a new deal.

At the time, his £40m exit clause was increased to £58m, leaving the Blues to instead sign Cole Palmer from Manchester City for a fee worth £42m – a move that has, to be fair, paid very rich dividends.

Nonetheless, they have remained very much on Olise’s trail this summer with the new fee required not dissuading them from pursuing his signing.

And having held extensive talks with the player and his agent, TEAMtalk revealed there was a big confidence at Stamford Bridge that a deal for Olise would be done this summer, with the player very much in favour of the transfer across London.

Two reasons why Chelsea abandoned Michael Olise deal

However, the bombshell news emerged on Friday evening that Chelsea had walked away from the deal and that Olise has instead said yes to a move to Bayern Munich.

Now sources close to the player have indicated to TEAMtalk that while the decision to join Bayern has ultimately proved too big a temptation for Olise – and how playing in the Champions League will potentially propel him into the France reckoning – it has also been revealed why Chelsea themselves also chose to back out of the potential deal.

And while the transfer fee involved was not an issue for the Blues, The Athletic claims that the player’s salary demands also dissuaded the Blues from pushing through his signing.

Indeed, while not seen as overly excessive, Boehly has realised that the wisdom in handing out long contracts on big wages – as commonly seen in the first few windows of his reign – are not always financially viable and can leave Chelsea with a big financial noose around their necks.

To that end, Boehly is wanting to usher in a more ‘disciplined’ wages policy and instead put the emphasis on rewarding the Blues stars currently impressing with new and improved deals instead.

Furthermore, Boehly is well aware that Chelsea are extremely well blessed for wide options with Raheem Sterling, Noni Madueke, Cole Palmer and Mykhaylo Mudryk already on their books.

In addition, Chelsea have also already committed to two major deals for summer 2025 that also will have impacted their thinking.

Chelsea transfers: Brilliant Estevao Willian deal set to go through

To that end, Boehly has seemingly decided that missing out on Olise will not prove a seismic blow for their future plans, given Chelsea have already signed off on the signing of Kendry Paez for next year.

Now a second Brazilian deal – and the second signing of the Enzo Maresca era – is on the cusp of being finalised, we understand, with the transfer of Estevao Willian from Palmeiras close to being finalised.

The Blues have been on the teenager’s trail for some time and talks in recent weeks have seen an agreement reached that will see the 17-year-old move to Stamford Bridge in 2025.

Now talks over just how much Chelsea will pay for his signing are accelerating, with sources close to TEAMtalk revealing the fee for the winger ultimately set to top €65m (£55m).

The Blues will pay €34m (£28.7m) up front plus a further €31m (£26.3m) in add-ons and bonuses.

While that will seem like a hefty wedge of cash for a teenage star who has only made 15 senior appearances in his career so far, Chelsea have been told that Estevao is the “real deal” and that they are signing one a generational Brazilian talent.

“It’s been a long time since we’ve had these kids there and Brazil has a spectacular generation,” 1994 World Cup winner Branco said.

“Brazil for 2026 will arrive very strong, they’ll arrive with strength, speed and quality.

“Estevao, for me, with all due respect to the others, this is something serious, something that I’ve never said and I’m going to say – since Neymar, he is the greatest player I’ve seen born in Brazil.

“This is my opinion, you’ve seen him close, you know. This is Brazil, they’re all spectacular but this boy, his ceiling is a bit higher.”

Palmeiras chief fears further Chelsea raids

Indeed, the Brazilian market appears something Chelsea are very much eager to explore and Palmeiras’ head coach, Abel Ferreira, admitted to being ‘scared’ that the Blues would be tempted to raid them for more of their young talent.

He said: “For Chelsea, what I’m afraid of is that nobody else will leave, not staff, players, coaches, but nobody. Let them leave us alone. We want temptation to stay away.

“I just hope Chelsea don’t take anyone else. I’m even scared. There’s a lot of good work going on at the academy.

“Since we arrived here, there hasn’t been a week when four or five players haven’t come to train with us.”

For Palmeiras, the impending agreement for Estevao represents a second major sale of the year for the Sao Paulo-based side, with the departure too of Endrick to Real Madrid netting them a combined €136m (£116.6m).

Brexit laws in the UK, however, mean Chelsea will not be able to welcome Estevao to Stamford Bridge until the player turns 18 in April 2025, meaning the teenager won’t be seen at Stamford Bridge until next summer.