Chelsea target has new release clause in his contract after Blues fail to get the deal done this summer - Reports

Chelsea's pursuit of young winger Michael Olise hit a snag, as he chose to extend his tenure at Crystal Palace. This despite the London club activating a previous £35 million release clause. According to Standard, the fresh contract includes a much higher release fee, although, the specifics remain under wraps.

Stephen Parish, the top executive at Palace, extended a generous pay bump to Olise, boosting him well beyond his prior £45,000 weekly earnings. Parish had no appetite for losing another offensive player, especially after waving goodbye to Wilfried Zaha, who jetted off to Galatasaray without any transfer fees.

This updated contract comes while Olise is nursing a hamstring setback, a mishap that occurred while he represented France at the European Under-21 level this summer. The timing has revealed Palace's commitment to the 21-year-old talent, sidelining any potential switch to Chelsea.

Meanwhile, the Blues seem to be setting their sights elsewhere. After pulling off a snag of their own by luring Cole Palmer away from Manchester City, they are expected to temper their enthusiasm for Olise.

Despite the changes in circumstances, Olise continues to be a coveted name on Chelsea's radar. However, the new dynamics and a more formidable release clause could make it less likely for the Blues to chase him down in the immediate future.

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Chelsea outpaces Arsenal in race for Corinthians' prodigy Gabriel Moscardo

As the transfer window drama unfolds, the Blues are reportedly inching closer to securing the services of 17-year-old sensation Gabriel Moscardo from Corinthians. According to Brazilian outlet Lance (via Chelsea Chronicle), the Blues are not only Corinthians' preferred buyer, but also a frontrunner among a host of interested top-flight European clubs.

It is reported that a £13 million release clause exists, but this option is exclusively available to Brazilian outfits. The Blues, undeterred by this limitation, have upped the ante by tabling a £21 million offer. Although Corinthians are holding out for a £26 million sum, the negotiations appear promising for Stamford Bridge.

Lance paints the London club as the top candidate to land Moscardo, despite stiff competition from other giants like Manchester City, Arsenal and even Barcelona. The odds seem to be tipping in the Blues' favor, particularly because Moscardo's agent, Giuliano Bertolucci, has recently brokered deals with the club involving clients Angelo Gabriel and Deivid Washington.

The connection with Bertolucci appears to be a vital component in their pursuit of Moscardo, smoothing the pathways for negotiation and increasing the likelihood of a favorable outcome. The Blues, already well-stocked with young talent, look to add another gem to their youth arsenal, potentially beating out some of Europe's most prestigious clubs in the process.