Cole Palmer has reportedly agreed to a new two-year contract extension with Chelsea, keeping him at Stamford Bridge until the summer of 2033.
Palmer enjoyed a stellar first season with the Blues, netting 27 goals and providing 15 assists in 48 appearances across all competitions.
His standout performance earned him an England debut and a spot in Gareth Southgate’s squad for the European Championship.
Despite England’s defeat to Spain in the final, Palmer made his mark by scoring the team’s only goal in the match.
Chelsea had signed Palmer from Manchester City last summer for an initial £40m, with potential add-ons bringing the total to £42.5m.
Upon his arrival, the 22-year-old committed to a seven-year contract, with an option to extend for an extra 12 months.
Transfer expert Fabrizio Romano revealed that the new deal includes a higher wage for the 22-year-old attacking midfielder, who is now set to remain at the club until 2033.
Palmer is also one of six nominees for the PFA Men’s Young Player of the Year award for 2023-24, alongside Bukayo Saka, Michael Olise, Joao Pedro, Kobbie Mainoo and Alejandro Garnacho.
The winner of this prestigious award will be announced on August 20.
Palmer’s new contract is the latest piece of business Chelsea have done in what has already been another busy summer for the club.
The Blues have already spent over £185m on as many as 10 new players this offseason, and have allowed double that number of players to depart Stamford Bridge.
Chelsea splashed out almost £60m on Kiernan Dewsbury-Hall and Estevao Willian last month before completing the £54m signing of Pedro Neto from Wolverhampton Wanderers this week.
Among those who have moved on this summer are Ian Maatsen and Lewis Hall, who were sold to Aston Villa and Newcastle United for around £37m and £28m respectively.
Conor Gallagher’s future looks almost certain to lie away from West London, while the Blues are also rumoured to be looking for suitable offers for academy graduates Trevoh Chalobah and Armando Broja.
