Chelsea and Man City pursue the £39m-rated star Michael Olise

Roy Hodgson admits Crystal Palace face a fight to keep Michael Olise amid interest from Chelsea and Manchester City.

The Eagles have already lost Wilfried Zaha on a free transfer to Galatasaray, while four other senior players, including James McArthur and Luka Milivojevic, also left the club this summer after their contracts expired.

Jefferson Lerma, who joined on a free transfer from Bournemouth, is the only new signing so far.

Asked about the loss of Zaha, Hodgson told The Sun: 'We had two outstanding wingers who were amongst the best in the league.

'Michael Olise on the right side and Wilf on the left.

'We don't have Wilf anymore and there's even a slight doubt over Michael's future because club's are circling around him and we're going to have a fight on our hands to make sure he stays with us.'

Chelsea have reportedly made a £39m pound offer to sign Olise.

According to RMC Sport in Olise's native France , the Blues have tabled an initial offer for the 21-year-old who has reportedly been 'seduced by the project' at Stamford Bridge.

Mail Sport understands that Olise has a £35m buyout clause in his Selhurst Park contract.

Mauricio Pochettino's side have offered figures in excess of release clauses before - as they did with Villarreal to sign Nicolas Jackson - in a bid to secure a a more favourable payment plan.

The Argentine manager is a big admirer of the young winger and has already spoken to him, with Olise having reportedly agreed to join Chelsea if a deal can be reached.

Palace, meanwhile, are trying to convince him to stay and Pochettino's side will likely need to trigger that buyout clause as Roy Hodgson's side are reluctant to entertain negotiations to sell him.

Their offer that sits above his buyout clause may help them pip Manchester City in the race to sign him, with Pep Guardiola also eyeing up a move for the Crystal Palace prospect.

Olise's contract is due to expire in 2026, with the Frenchman having spent two years at the south London outfit following his £8m transfer from Reading .

He has attracted attention from clubs around the Premier League and in Europe, with PSG being another club who have expressed their interest to sign him .

Olise enjoyed a stand out season with the Eagles, featuring 37 times in the Premier League while returning two goals and 11 assists.

He was also an integral part of France U21's European Championship side, but suffered a grade three hamstring tear during their 0-1 win against Norway and is now set to miss the start of the new season.