Chelsea has secured the signing of Cole Palmer, an exciting forward from Manchester City. The initial fee for the transfer is £40m, with an additional £2.5m in potential add-ons.
The 21-year-old has committed to a seven-year contract, with the option for an extra year. Palmer, who emerged from the City academy, was a key contributor to England’s victorious campaign in the recent European Under-21 Championship.
“I’m excited to get started and it feels great to sign,” he said.
“I’ve joined Chelsea because the project here sounds good and because of the platform I will have to try to showcase my talents. It is a young and hungry squad and, hopefully, we can do something special.”
“He is a fit for the project, a young talented player,” said Chelsea manager Mauricio Pochettino. He expects to play more. He’s seen the project for him to improve his game and be more involved.”
However the Argentine said he will not be putting pressure on Palmer to deliver immediately.
“He needs time to settle, he’s moved from Manchester to London, the club is different. We won’t put pressure on him to perform, he needs to find his space in the team,” he explained.
Palmer scored in both City’s Uefa Super Cup win over Sevilla and the Community Shield defeat by Arsenal.
City manager Pep Guardiola had previously said that Palmer would not be allowed to leave on loan. West Ham had been interested in signing him earlier this summer but that was thought to be a loan approach.
“Cole arrives with the experience of winning the Premier League and Champions League and adds further quality and versatility to our attacking unit,” said Chelsea co-sporting directors Laurence Stewart and Paul Winstanley.
“He has showcased his talent and potential in the most challenging environments and delivered on the international stage for England at the European Under-21 Championships.
“He is undoubtedly ready for this next step and we are delighted it will be with Chelsea.”