Cole Palmer agrees to a new Chelsea contract with lucrative salary following impressive rookie campaign

Cole Palmer has extended his contract with Chelsea until 2033, with a salary boost following his impressive debut season in west London.

Palmer swapped Manchester City for Stamford Bridge last summer in a huge transfer worth £42.5m, which initially raised eyebrows and was seen as a big risk.

That was because of Palmer’s lack of experience, but the England international is now very much regarded as one of the best signings of the 2023-24 campaign.

The 22-year-old’s debut Premier League season for the Blues was historic as he remarkably broke Eden Hazard’s Chelsea record for the most goals and assists.

Palmer was previously earning £80,000-a-week – and while his new salary is unconfirmed – it has been significantly increased to be in line with other top players in the squad.

The versatile attacker, who mainly operates as an attacking midfielder or winger, has been on an incredible upwards trajectory ever since leaving the Etihad.

Pep Guardiola never wanted Palmer to leave – and desperately tried to convince him to stay at City – but the player was adamant he wanted to join Chelsea.

Cole Palmer is the highest rated player in Europe’s top five leagues since the beginning of 2024 (7.89).

The 22-year-old has committed his future to #CFC by signing a two-year contract extension, reports @David_Ornstein. 🔒 pic.twitter.com/ndq61z492J

‘He was asking for two seasons to leave and I said, ‘No! Stay! Stay!’ – but he said, ‘No – I want to leave’ – what could we do?’ Guardiola said last season.

‘I said in pre-season, stay. He said he wanted to leave. What could we do? I said stay because Riyad [Mahrez] is gone but for two seasons he wanted to leave.

‘Playing that level [he is now] is exceptional. He’s an exceptional player. I didn’t give the minutes that maybe he deserved and now he has at Chelsea.

‘I understand completely. He’s a shy guy with a lot of potential. It is what it is. He’s playing fantastic so what can I say, the decision has been made for many reasons.’

Palmer has conjured up 25 goals and 15 assists across 45 games in all competitions for Chelsea to date.

He was crowned both Premier League Young Player of the Season and Chelsea Player of the Season last term.