According to reports in Germany, Olise is intrigued by the prospect of joining Real Madrid, believing the move would provide the perfect opportunity to take the next step in his career.
The 24-year-old enjoyed a sensational 2025-26 season, scoring 22 goals and providing 29 assists in all competitions. His outstanding displays earned him the Bundesliga Player of the Season award and cemented his place among Europe's elite attacking players.
Olise joined Bayern from Crystal Palace in July 2024 on a five-year contract that runs until June 2029. His exceptional form has prompted Bayern to begin discussions over extending that deal until June 2031, with a significant salary increase aimed at securing his long-term future.
Despite the transfer rumours, Real Madrid have issued an official statement denying they have made any approach for the winger.
The Spanish club said: "Real Madrid C. F. wishes to clarify that it has not had any direct or indirect contact with the aforementioned footballer, his representatives, or individuals in his circle."
Bayern have been equally clear that they have no intention of selling one of their key players. Honorary president Uli Hoeness dismissed suggestions that the Bundesliga champions would consider cashing in on Olise, regardless of the size of any offer.
"Not even for 200 million euros, he is not for sale, he is a crucial player for us. No chance," Hoeness said.
Those comments underline Bayern's determination to build their future around Olise, even as reports continue to link him with a move to the Santiago Bernabeu.
Olise is under contract for another three years and has no release clause in his deal.