Rummenigge traces the club's position back to a transformative discussion in 2009 when they refused what would have been a world-record bid from Chelsea for Franck Ribéry.
Olise, 24, has been the outstanding individual performer in the Bundesliga this season, accumulating 19 goals and 29 assists across 46 appearances in a forward line alongside Harry Kane and Luis Díaz that is widely regarded as the most dangerous in Europe. A spectacular goal against Real Madrid in the Champions League group stage has become one of the most replayed moments of the European season. His contract at the Allianz Arena runs until 2029.
Liverpool and Chelsea have been among the clubs linked with a summer approach, and Rummenigge addressed that speculation directly in an interview with t-online.de, citing the Ribéry episode as the source of the principle that governs Bayern's thinking on players of Olise's calibre.
"In 2009, we received an incredible offer from Chelsea for Franck Ribéry. At the time, it would have been a new world transfer record. I then went to our then CFO Karl Hopfner and Uli Hoeneß. We discussed for two hours what to do with that offer. On that day, we made a fundamental decision: that in the future, we would no longer sell any player whom we would miss from a sporting perspective. And that unwritten rule still applies today. For a player like Olise, there is no price tag that would make us flinch."
The Chelsea bid at the time was understood to be in the region of £80 million — which would have exceeded the then-world record paid by Real Madrid for Cristiano Ronaldo. Ribéry went on to spend a further decade at Bayern, winning eight Bundesliga titles.
Rummenigge added warm words about the character behind the talent.
"He is a wonderful player. I also like the fact that he is so reserved and almost media-shy. That is the exception in today's world. On the pitch he is of course outstanding, the way he celebrates football and almost performs magic."
Head coach Vincent Kompany was equally effusive about Olise's trajectory.
"He's on the right track now. Everything he does is right. His level now is one of the best in Europe. He will be one of the best in the world one day."
Olise joined Bayern from Crystal Palace for around £50 million in 2024. He is now rated at 4:1 odds to win the Ballon d'Or — second only to Kane in the current market.