Reading FC have confirmed that Michael Olise has joined Crystal Palace.

It is understood that Palace paid Olise's £8m release fee to acquire his services.

READ MORE: Former Royals striker finds new club after being released

During the 2020/21 season, the young midfielder scored seven goals and registered 12 assists.

He was rewarded for the fantastic season by being named the EFL Young Player of the Season and also earned a spot in the Championship Team of the Year.

Olise will wear the number 7 shirt at Selhurst Park.

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A club statement reads: "Naturally his [Olise's] performance levels under Veljko Paunovic last season also sparked a significant amount of transfer speculation.

"After a record transfer fee was accepted earlier this week, he will now join Patrick Vieira’s new-look Palace side ahead of the start of the 2021-22 Premier League campaign.

"Everyone at Reading Football Club would like to wish Michael the very best of luck at Selhurst Park and in his future career."