Bayern Munich are weighing a summer move for Gibbs-White, but only if Olise leaves for Real Madrid.
That framing runs through several recent English reports, with the Daily Mail’s coverage picked up by Yahoo on 4 August. GiveMeSport reported the Chelsea angle on 6 August, adding that Bayern have moved Gibbs-White up their board.
The 26-year-old England midfielder finished 2025-26 with 18 goals and seven assists in all competitions for a Forest side that reached the Europa League semi-finals.
Vincent Kompany’s staff have been keeping a close eye on him, tracking a familiar profile: an English attacking midfielder in his mid-20s, signed before he peaks.
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Kompany’s English shopping trolley
Bayern have leaned heavily on the Premier League and English talent under Kompany.
Harry Kane and Olise himself are the two obvious precedents, and any bid for Gibbs-White would sit against a backdrop set by the £116m Manchester City paid Forest for Elliot Anderson earlier in the summer, confirmed by Sky Sports as making Anderson the most expensive British player ever.
Gibbs-White signed a new deal at the City Ground in July 2025 that runs until 2028, on a reported base of £110,000 a week rising closer to £140,000 with bonuses.
Forest have made it plain since the Anderson exit that he is not for sale unless a bid arrives that is impossible to turn down.
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Agent switch has moved the pieces
The story has sharpened in the past week because Gibbs-White has changed representation to ROOF, whose client list includes Leon Goretzka, Serge Gnabry and Konrad Laimer.
That is three Bundesliga names, two of them at Bayern, and it has been enough on its own to reset the speculation without any public word from the player or the club.
Owner Evangelos Marinakis ensured Forest kept their star man last year, and the arrival of new head coach Oliver Glasner has been framed as another reason for Gibbs-White to stay put. The Anderson deal has, however, reset the ceiling for what a bid would need to look like.
Chelsea’s problem is bigger than missing the Champions League
Chelsea’s summer interest in Gibbs-White is well documented, but their leverage has quietly disappeared. The club did not qualify for any European competition in 2026-27 after a final-day defeat at Sunderland, beIN Sports confirmed on 24 May.
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The Champions League, Europa League and Conference League spots all went elsewhere. For a player weighing a move to a top continental side, that is a hard sell against a Bayern side under Kompany.
None of this is a done deal. No bid has been tabled publicly, Forest have not opened talks, and the whole scenario sits on top of a Real Madrid move for Olise that has yet to be agreed.
But the pieces, agent switch, Anderson benchmark, Olise domino and Chelsea’s European exit, all line up in Bayern’s favour if the summer keeps drifting this way.
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