Reading are set for a welcomed financial boost as Michael Olise completes his move to European giants Bayern Munich.

The 22-year-old won EFL Young Player of the Year with the Royals in 2021 before moving to Crystal Palace for £8m.

Continuing to impress in the Premier League, the creative midfielder made nearly a century of appearances for the Eagles, including scoring 10 goals last season.

Signing a five-year deal with Bayern Munich on Sunday, a 10 per cent sell-on percentage from the profit made by Palace is expected to net the Royals in excess of £4m.

Although it is unlikely to come in one hit, any incoming cash will be gratefully received by all at Bearwood as the club continues to move on a month-by-month basis for bills.

Olise becomes the second Royals Academy graduate to move to the Allianz Stadium after full-back Omar Richards moved from Berkshire to Bavaria in 2021, making 17 appearances and winning a Bundesliga title.

Christoph Freund, FC Bayern sporting director, said: “Michael is quick, tricky, a goal threat and very versatile in attack. His goals and assists stats are already outstanding. At the age of 22, Michael is already very advanced, but is also hungry and still has a lot of potential. Fans come to the stadium to see players like Michael Olise.”