Olise rejects a transfer to Chelsea and secures a new contract with Crystal Palace.

Michael Olise, a target for Chelsea, turned down a transfer to Stamford Bridge after pledging his future to Crystal Palace for four years.

The 21-year-old's previous contract's £35 million ($44.7 million) release clause was activated by Chelsea on Tuesday, and the winger was anticipated to finalize a move to the Blues.

However, as a result of a new arrangement that Palace chairman Steve Parish announced on Thursday, that decision has been reverse.

“I’m absolutely delighted to announce Olise has decided to commit his future to Crystal Palace football club and this afternoon signed a new four-year deal with the club,” Parish wrote on Instagram.

Olise’s proposed deal had created rancours within the Palace who are thought to have believed Chelsea used questionable conduct to sign the player, even though Chelsea, on their part, believed they did nothing wrong.

“It’s the best possible news we could have,” Palace manager Roy Hodgson said. “The decision has been his [Olise’s]. I must congratulate Steve Parish and Dougie Freedman on a fantastic job.”