Will Chelsea ever stop spending?! Michael Olise set to join Blues in cut-price £35m move from Crystal Palace

Chelsea are said to have activated the £35 million ($44.5m) release clause in Michael Olise's current Crystal Palace contract.

Chelsea have been admirers of the France Under-21 international all summer, with the Blues said to have been rivaling Manchester City in a move for the midfielder.

According to reports via the Evening Standard just yesterday, a fee of £45m ($57m) had been mentioned as the proposed fee, but Chelsea have now, according to The Athletic, triggered Palace's £35m ($44.5m) release clause. With Moises Caicedo's move from Brighton confirmed just yesterday, Chelsea's rebuild shows few signs of slowing down, with Southampton midfielder Romeo Lavia also set to follow the Ecuadorian through the door.

There could be more transfer movement in west London as Todd Boehly continues to revamp the Blues squad.