Chelsea have announced the signing of English footballer, Cole Palmer, from Manchester City for an initial £40m.
The Blues will pay an initial £40m with £2.5m in add-ons which takes the spending at Chelsea under the Todd Boehly-Clearlake Capital ownership to £1.02bn. It will also take their spending this summer alone to £419m.
Cole Palmer who has been on the fringes with the City team under Pep Guardiola, signed a seven-year deal with Chelsea, with the option of an eighth.
Speaking to Chelsea’s website, he said;
“I’m excited to get started and it feels great to sign. 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 here.”
Co-sporting directors Laurence Stewart and Paul Winstanley said;
“Cole arrives with experience of winning the Premier League and Champions League and adds further quality and versatility to our attacking unit.
“He has showcased his talent and potential in the most challenging environments and delivered on the international stage for England this summer at the European Under-21 Championships. He is undoubtedly ready for this next step and we are delighted it will be with Chelsea.”
The 21-year-old might be the last Chelsea arrival this summer, though plenty of fringe players are expected to leave.
Callum Hudson-Odoi is expected to join Nottingham Forest, having seen a deal with Fulham collapse earlier this month, while Tottenham continue to monitor Conor Gallagher in the event midfielder Pierre-Emile Hojbjerg leaves before Friday’s transfer deadline.
Bayern Munich remain locked in talks over a move for Trevoh Chalobah but his £50m asking price could scupper a potential deal. Ian Maatsen continues to stall on a new contract offer amid interest from West Ham and Burnley. A decision on his future will likely run late into Friday, September 1.
Deivid Washington, a £17m summer signing from Santos, is set to leave Chelsea on loan, with Boehly’s new club Strasbourg linked, and Romelu Lukaku joined Roma on loan yesterday, August 31.
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