Chelsea have reportedly suffered a major blow in their pursuit of Crystal Palace attacker Michael Olise.

The 22-year-old - despite featuring in only 19 Premier League matches during 2023-24 - managed to provide 16 goal contributions at the Selhurst Park club.

Following the arrival of new head coach Oliver Glasner as a replacement for Roy Hodgson, Olise has spearheaded a serious improvement of the Eagles alongside fellow forwards Eberechi Eze and Jean-Philippe Mateta.

In spite of his eye-catching performances in England, the France Under-21 international did not receive a senior call-up to Didier Deschamps 26-man contingent for Euro 2024 this summer.

Olise is also eligible to feature for Gareth Southgate's Three Lions on the continental stage, although the former Reading star will not be linking up with Palace teammates Eze, Adam Wharton, Marc Guehi and Dean Henderson in Germany.

Chelsea's lack of Champions League football to hinder Olise pursuit?

According to The Times, Chelsea have potentially been dealt a significant blow as they look to sign Olise from Selhurst Park this summer.

The Blues triggered the attacker's £35m release clause last summer, however the player himself decided to stay put at Palace, later agreeing to a new deal.

Olise's fresh terms at Selhurst Park include an increased release clause of £60m, and it is understood that only a specific group of clubs can activate the stipulation.

It is believed that only sides who are competing in next season's revamped Champions League are able to trigger the clause in the 22-year-old's contract.

Such developments will be music to the ears of Manchester City and Vincent Kompany's Bayern Munich, two outfits who comfortably qualified for UEFA's premier club competition.

Chelsea still have a chance of landing Olise

After missing out on European football entirely the previous year, Mauricio Pochettino guided Chelsea to a sixth-placed finish in the Premier League last season, which initially appeared good enough for Europa League football.

However, following Manchester United's triumph over local rivals Man City in the FA Cup final, the Blues have only been able to secure Europa Conference League football.

Regardless, the West Londoners were never close to earning a top-four finish that would allow them to trigger Olise's £60m release clause, although Enzo Maresca's troops are not out of the race just yet.

It has been reported that Chelsea have verbally agreed personal terms with the Palace attacker over a move to Stamford Bridge, meaning that the lack of an agreement between the two clubs is currently the roadblock of a high-profile transfer across the capital.