Liverpool and Arsenal have both been linked with Michael Olise, but their hopes of bringing the Bayern Munich winger back to the Premier League have suffered a significant blow.

The France international remains one of the most sought-after attackers in Europe, and both English clubs have monitored his situation closely. However, the latest indications suggest Olise is more excited by the prospect of moving to Spain, with Real Madrid increasingly viewed as his preferred destination.

This development does not completely rule out a Premier League return, but it clearly complicates matters for both Liverpool and Arsenal.

• Michael Olise prefers a move to Real Madrid over a return to England.
• Liverpool has long admired the 24-year-old, while Arsenal is monitoring his contract talks with Bayern.
• Reports indicate Real Madrid remains interested in Olise, despite speculation about other targets like Erling Haaland.

Bayern Munich is attempting to extend Olise's contract beyond 2029, with key negotiations around a possible release clause.

For Liverpool, this situation is frustrating as Olise would be an ideal long-term wide option: creative, left-footed, and proven in the Premier League. Arsenal’s interest is logical as well, given their decision not to sign another winger during the summer.

The main challenge for both clubs is Olise's preference. If he genuinely sees Madrid as his dream move, neither Liverpool nor Arsenal can secure his services simply by offering more money. Bayern holds all the contractual power, aiming to make him one of their highest-paid players with a substantial release clause.

For the English clubs, the prudent approach is to stay informed without centering their entire transfer strategy around Olise. While he would enhance either team immediately, Real Madrid currently holds the emotional advantage.