Real Madrid have issued a formal statement categorically denying any pursuit of Bayern Munich winger Michael Olise, putting an end at least officially to weeks of mounting speculation that had placed the French international at the centre of what would have been one of the most expensive transfers in football history.

In a statement released on Saturday, the Spanish club said it had maintained no direct or indirect contact with Olise, his representatives, or any individual connected to the player. Real Madrid also used the occasion to highlight the long-standing institutional relationship it maintains with Bayern Munich, describing it as one built on mutual respect, trust, and admiration.

The club expressed regret over the circulation of rumours that, in its words, do not reflect reality, adding that both clubs share a mutual conviction that any potential interest in a player belonging to the other should first be addressed between the organisations themselves.

The denial comes after weeks of reports from across Europe linking Olise to a blockbuster move to the Santiago Bernabeu. Spanish outlet MARCA had reported that Real Madrid were prepared to launch a record-breaking bid for the 24-year-old, with figures ranging from €150 million to as high as €220 million being widely circulated.

The speculation intensified further when Olise’s name became entangled in Real Madrid president Florentino Pérez’s presidential re-election campaign, during which Pérez had hinted at a major transfer. The club subsequently clarified that the €150 million bid referenced by Pérez had in fact been submitted for Atlético Madrid’s Julián Álvarez, not Olise.

Bayern Munich had already moved to assert their position well before Saturday’s denial. Club president Herbert Hainer made it clear in early June that Olise is not for sale and that the Bavarians plan to extend his contract, which currently runs until 2029, by a further two years to 2031 following the conclusion of the 2026 FIFA World Cup. Olise, who enjoyed a phenomenal campaign with Bayern last season, recording 22 goals and 31 assists across 52 appearances, was reported to be deeply uncomfortable with the speculation and had expressed a desire to remain in Munich.

Manchester City had also been linked with an interest in the winger, with some reports suggesting the Premier League club were prepared to rival Real Madrid with an offer north of €200 million. For now, however, Real Madrid’s public disavowal appears to have drawn a line under one of the summer’s most talked-about transfer sagas, even as observers note that the episode has underscored just how highly Olise is rated among Europe’s elite clubs.