Man City confirm £42.5m departure to Chelsea on transfer deadline day

Manchester City have confirmed the departure of Cole Palmer to Chelsea, in a deal worth up to £42.5m.

The London club approached City this week about the possibility of signing the 21-year-old, who came through the club's youth ranks. Chelsea with pay an initial £40m, with a further £2.5m in add-ons.

After impressing in the 2021/22 campaign, Palmer had hoped to push on last season, but was limited to just two starts in the Premier League, both of which came after City had won the title. The attacker scored the team's only goals in the Community Shield and European Super Cup finals this season, both of which ended 1-1 and were settled by penalties.

But Jeremy Doku's arrival led to less certainty that Palmer would get sufficient playing time and he felt the opportunity to join Chelsea was one he couldn't turn down. While City were disappointed to let such an impressive talent leave, they appreciated his need to play regular first-team football.

"I have had a fantastic time at Manchester City and I would like to thank everyone who’s been there for me and supported me during my time at the Club – players, coaches, staff," Palmer told City's website, upon the news being announced.

“It’s been an amazing journey for me and I’ve enjoyed every single step. The next step is leaving the football club. I leave with many happy memories and wish everyone at City the very best for the future.” 

It continues a busy summer window for Chelsea, who have now spent close to £500m this window alone.

Meanwhile, City are expected to wrap up a deal for Matheus Nunes on deadline day after a fee was agreed with Wolverhampton Wanderers earlier in the week. Tommy Doyle is heading in the other direction on loan, while Taylor Harwood-Bellis has joined Southampton on loan.