The pair worked together at Leipzig before Nagelsmann transferred to Bayern, taking over for Hansi Flick. After a decent 2020/2021 season with Leipzig, scoring five goals and providing 10 assists from a total of 46 appearances across all competitions, the 23-year old enjoyed a bright Euros campaign for Spain before they were eventually knocked out by Italy in the semi-finals. Olmo clocked a total of 379 minutes across Spain’s five matches at the tournament, providing three assists along the way, one of which came in the semifinals, penalty shootout loss to Italy.
Sky’s Torben Hoffman said, “It is clear that Julian Nagelsmann would like to have him in the squad. But Bayern cannot and will not make a transfer of this magnitude this summer.”
Olmo’s current Leipzig contract runs through 2024 and contains a release clause of €80 million, which is a massive roadblock from Bayern’s perspective. As much as Nagelsmann would like to have him, Bayern cannot spend anywhere near that kind of money on any one transfer having already signed both Dayot Upamecano and Omar Richards this window. It’s also suggested that Olmo himself would prefer to stay and play at least one more season at Leipzig under new manager Jesse Marsch.
Apparently, Bayern was interested in Olmo in the past when he was playing for Dinamo Zagreb in Croatia, but he ultimately decided to join Leipzig at the time. As Nagelsmann had shown with Olmo at Leipzig, he possesses the ability to play on either flank in attack as well as a central midfielder, making him an incredibly valuable asset. Luis Enrique had even deputized him as a makeshift false 9 of sorts in the semi-final match against Italy. In that sens, he could be a potential long-term replacement for Thomas Muller, in a way.
Hopefully at some point after next season, Bayern can reexamine Olmo’s situation and see if it would be a possibility to bring him to Munich, but for now, he’s an investment Bayern simply cannot afford.
Chiesa also on Naglesmann’s radar
While Sky reported that Nagelsmann would love to work with Olmo once again, they reported that his dream transfer would be Juventus’s and Italy’s Federico Chiesa. The winger has dazzled with his performances at the Euros for the Azzurri, but Bayern faces a similar problem with him as well. His current loan contract from Fiorentina to Juventus runs through June of next year and he is valuated at roughly €60 million, which could easily rise quickly due to his success at the Euros with Italy.
If Nagelsmann had his choice, Chiesa would be his top transfer pick, but Bayern’s financial situation makes it difficult to see that being a realistic possibility at any point in the near future. “I am aware that you cannot do everything on the transfer market, the club should have their hats on,” Nagelsmann had said earlier this week in his first official press conference as Bayern manager.
For now, with Bayern’s current financial situation, with a combination of coronavirus-related losses and the transfers of both Dayot Upamecano and Omar Richards, Bayern needs to focus on getting contracts sorted for Leon Goretzka, Niklas Sule, Joshua Kimmich, and Kingsley Coman, who’s agent is heavily pushing for a Premier League move.
Oliver Kahn had already made it clear that he was going to make active efforts to try to lessen the ridiculously high wage demands for players trying to renew their contracts. “On the one hand you cannot say that it is important to us to achieve sporting success on the basis of economic stability and solidity, and then on the other advance into salary regions that simply do not fit in with FC Bayern,” he stated. With that in mind, it could be a long summer of negotiations for Bayern, especially with Coman, whose agent and representatives have made it entirely clear that they want a move away from Bayern this summer.