Bayern Munich’s consistent public stance that Michael Olise remains unsellable, backed by his contract running until 2029, underpins the near-certain trader consensus against an immediate transfer to Real Madrid. Club officials, including the CEO and supervisory board members, have repeatedly confirmed no contact from Madrid, no transfer request from the player, and no intention to entertain even record bids exceeding €200 million during the current window. Real Madrid’s own denials of negotiations, combined with their shift toward alternative targets, further reinforce the view that the French winger stays at the Allianz Arena. While a future move remains possible once contract length shortens or squad circumstances evolve, no credible developments in recent weeks have altered the institutional barriers or market positioning.