Chelsea and Manchester City reach agreement over £45 million deal for Cole Palmer

Manchester City and Chelsea have reached an agreement in principle over a £45 million deal for academy graduate Cole Palmer, as per reports.

Palmer has been at the centre of long-standing interest from numerous clubs throughout the ongoing summer transfer window, but now appears to be on the verge of finalising a permanent exit from Manchester City.

The City academy graduate was commanding interest from Brighton & Hove Albion – who had proposed a deal in the region of £30 million, as well as West Ham United – who were more keen on a loan deal for the England under-21 star.

Bundesliga giants Borussia Dortmund also showed a tenuous interest later on in the transfer window, however were forced to retract any hopes of signing the Manchester City man due to the finances being spoken about.

Now, Cole Palmer is closing in on a move to Mauricio Pochettino’s Chelsea after negotiations between the two Premier League giants developed rapidly over the course of Wednesday morning and into the afternoon.

Following a verbal agreement between the two clubs, here is everything you need to know about a deal that is expected to be completed in the coming days!

What was first reported?

As first detailed by John Percy of The Telegraph, it was detailed that Chelsea were close to agreeing a £45 million deal with Manchester City for Cole Palmer.

How much are Chelsea paying for Cole Palmer?

As per the information of Fabrizio Romano, Chelsea have reached an agreement in principle with Manchester City over an initial £40 million deal plus a further £5 million in add-ons.

Is there anything else we need to know about the deal?

Manchester City are highly unlikely to seek a direct replacement for Cole Palmer, following the signing of Jeremy Doku from Stade Rennais for a deal understood to be worth in the region of €55 million.

A medical for Cole Palmer at Stamford Bridge could take place as early as Thursday.

Chelsea’s Joe Shields is understood to have been instrumental in persuading Palmer to agree to a switch to London.