Real Madrid are reportedly preparing a £130 million bid for Michael Olise if club president Florentino Perez secures re-election this weekend.

According to reports from The Guardian, Perez is facing rival candidate Enrique Riquelme in the club’s first contested presidential election in two decades.

Riquelme has reportedly promised to pursue moves for Erling Haaland and Rodri from Manchester City if elected.

Should Madrid complete a deal for the Bayern Munich winger, it would become the club’s most expensive signing, surpassing the £109 million paid for Jude Bellingham in 2023.

Olise has attracted attention following his performances in Germany since joining Bayern.

Meanwhile, Crystal Palace and Everton are reportedly interested in signing Manuel Ugarte from Manchester United this summer.

The midfielder is said to be available after an underwhelming spell at Old Trafford following his move from Paris Saint-Germain.

Reports indicate that Manchester United value the 25-year-old Uruguay international at around £25 million as both clubs look to strengthen their midfield options ahead of the new season.