He had already reached an agreement with Eintracht Frankfurt in the summer: will FC Bayern Munich spring a transfer surprise?

Osula's sudden link with Bayern comes as a surprise. Until recently, media reports consistently named his teammate Anthony Gordon as a leading candidate to plug the club's attacking void, thanks to his versatility up front. RB Leipzig's Yan Diomande is also in the frame; The Athletic claims he is the preferred target, though his transfer would cost more than Gordon's.

Osula, by contrast, is a classic No. 9. At 1.91 m and 22 years old, he combines size with pace. The report adds that Bayer Leverkusen, Everton and Crystal Palace are also monitoring him. Unlike Gordon, though, he is not a regular starter for the Magpies.

For much of the current season, Osula was a long way from a regular starting place. Although he made 32 appearances, he managed just over 1,000 minutes on the pitch. In that time, he did, however, score seven goals. Most recently, though, Osula started four Premier League matches in a row and scored three goals.

Even before the season began, it was clear that Osula would face an uphill battle for regular game time under manager Eddie Howe, following the signings of Nick Woltemade and Yoane Wissa. As a result, transfer rumours swirled throughout the campaign. Osula reportedly agreed to a loan move with an option to buy at Eintracht Frankfurt, but Newcastle blocked the deal. The move collapsed over transfer terms. A fresh approach in January also failed, despite Osula remaining a substitute. VfB Stuttgart were linked with a move around the same time. 

However, Osula would still not be a bargain, having joined Newcastle from Sheffield United in 2024 for €11.6 million. The Daily Mail reports that the Magpies' asking price now equates to €46 million, as the club urgently needs to raise funds to comply with England's strict financial regulations. That pressure is heightened because the 13th-placed side will miss out on European competition. The Danish Under-21 international still has a contract until 2029, so improved terms are not on the cards despite his form.

Should Bayern prefer a more traditional centre-forward, Dusan Vlahovic represents a far cheaper option. According to La Gazzetta dello Sport, the Serbian will be available on a free transfer this summer and is eager to move to Munich, while his future at Juventus appears increasingly uncertain due to a stalemate over salary demands.