Bayern Munich burned off competition from the Premier League's biggest clubs to land Michael Olise.
Bayern have struck terms with Olise and will meet the £60m buyout clause in his Crystal Palace contract.
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Chelsea made an attempt this week, but couldn't agree terms with Olise. However, the move was always a non-starter as the France U21 midfielder was only leaving Palace for a Champions League club.
Manchester United and Manchester City also made attempts on Friday, but a deal couldn't be agreed with the Eagles. Both Manchester clubs wanted to secure an option on Olise and sign him formally next summer. But the proposals were dismissed.
The London Evening Standard says United and City were forced into their proposal due to FFP concerns.
Olise will join Bayern on a contract worth €250,000-a-week.