Matthäus delivered his warning on his Bild show Lothar legt los, aimed squarely at a Bayern board that has yet to open a single round of negotiations with Olise’s camp.

His verdict was blunt.

“Of course, it also depends on the length of the contract. Olise is now at an age when every door is open to him. And if they don’t extend his contract, he won’t be playing for Bayern in a year or two,” Matthäus said on the show.

The jeopardy is real. Bayern board member for sport Max Eberl confirmed on 10 October, ahead of the Bundesliga match against FC Augsburg, that the club has not even started the conversation.

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“To be honest, there have not been any talks at all yet,” Eberl told DAZN.

“Our desire is clearly on the table. We would like to continue working with Michael for a long time, beyond 2029.”

Olise’s current deal, signed when he joined from Crystal Palace in 2024, runs to the summer of 2029. On around €14 million a year, he is well short of Bayern’s top earners, Matthäus pegs him seventh or eighth on the squad’s salary list, and the pundit wants that gap closed fast.

The Musiala and Kane benchmark

“If they absolutely want to keep this player, they have to raise his salary. Into the same range as Musiala or Kane,” Matthäus said.

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The club appears to be heading in that direction. Bayern are preparing an offer that would extend Olise’s contract by two further years and roughly double his wage to around €25 million annually, a package that would place him among the squad’s highest earners. A so-called Ballon d’Or clause has also been floated, triggering a bonus if he were to win the award.

For now, that offer exists only on paper. The sticking point, according to reports close to the player, is that any extension would require a release clause, which his current deal does not contain.

Real Madrid lurking at €200 million

While Munich waits, Madrid circles. Real Madrid’s interest in Olise has not cooled, and a realistic transfer fee for the Frenchman would exceed €200 million, according to the reporting around Matthäus’s comments.

Matthäus’s own position was unambiguous.

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“I would never sell a player like that. I would always try to keep him for as long as possible. But then, of course, you have to offer more financially.”

He also made clear why he thinks Bayern cannot afford to lose him. The 24-year-old has nine goals and five assists in his first 10 competitive matches of the season, and the Bild pundit called him a “difference-maker” he goes to the stadium specifically to watch.

“He doesn’t just bring us joy with his football. His entertainment value is enormous. I go to the stadium to admire the difference-maker. Much like Messi or Maradona. Olise doesn’t just love the ball; the ball loves him too.”

No date has been set for a first round of talks between Bayern and Olise’s representatives.

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