Chelsea completed the signing of Manchester City forward Cole Palmer on a seven-year contract.
It is understood that Chelsea will pay an initial £40million for the 21-year-old academy graduate with an additional £2.5m in possible add-ons.
“I’m excited to get started and it feels great to sign,” Palmer told his new club’s website.
“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.”
It takes spending in the 16 months since the club was acquired by Todd Boehly’s Clearlake Capital consortium to over £1billion, with Palmer the 12th player through the door during the summer transfer window.
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