Charlton Athletic, Leyton Orient and Birmingham City rivals to receive £4m windfall from blockbuster transfer

Charlton Athletic and Leyton Orient rivals Reading are to receive significant financial windfall as Crystal Palace star Michael Olise completes a blockbuster move to Bayern Munich.

The 22-year-old dazzled for the Eagles last season, picking up 10 goals and six assists in just 19 Premier League appearances, having missed large parts of the campaign with a hamstring injury. Olise had been linked with a summer transfer to Manchester United or Liverpool but has now put pen to paper with German giants Bayern Munich.

The forward will play alongside former Tottenham Hotspur man Harry Kane at Bayern, with the outfit also close to completing a deal for Fulham midfielder Joao Palhinha. Olise's transfer will have repercussions in League One too as he makes his £50 million switch.

The winger is a product of the Reading academy and broke through into the first team at the Berkshire club. Olise only left the Royals in 2021 to join Crystal Palace in an £8 million move having won EFL Young Player of the Year.

According to the Reading Chronicle, a sell-on clause in that deal will see Reading bag a fee in excess of £4 million this summer thanks to Olise's transfer. That cash injection comes as a huge boost for a club that continues to be riddled with financial worries.

Ruben Selles' side were one of the teams embroiled in a relegation battle with Charlton Athletic last season with the Royals fighting to come back from a six-point deduction. Reading ended up finishing just one place behind the Addicks in the table, only goal difference separating the sides in 16th and 17th.

Both clubs will be hoping for stronger seasons next time out and would like to compete with one another in the top half of the table, although Reading are still awaiting a much-needed takeover to rescue the club from the hands of controversial businessman Dai Yongge.