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Cole Palmer to Chelsea: Blues complete £40m signing of Manchester City winger on Transfer Deadline Day

Chelsea have completed the £40m signing of Manchester City winger Cole Palmer; deal takes the Blues' spending under owner Todd Boehly past the £1bn mark; Chelsea have also spent more in this transfer window than Mauricio Pochettino did in his entire five-year reign at Tottenham

Chelsea complete the signing of Cole Palmer
Image: Chelsea have completed the signing of Cole Palmer

Chelsea have completed a deal to sign Manchester City winger Cole Palmer on Transfer Deadline Day.

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. In over five years and 11 transfer windows at Tottenham, the Chelsea coach Mauricio Pochettino's former club, he only spent £412m.

Palmer has signed a seven-year contract with the option of a further year and will join up with the Chelsea squad ahead of their Premier League fixture at home to Nottingham Forest on Saturday.

Chelsea have spent more than £1bn on signings under the Todd Boehly-Clearlake Capital ownership
Image: Chelsea have spent more than £1bn on signings under the Todd Boehly-Clearlake Capital ownership

On signing for the Blues, Palmer 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."

Palmer played in Manchester City's Premier League opener against Burnley and was on the bench for the last two games.

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Chelsea target Cole Palmer scored his first Manchester City goal in 2021 against Wycombe in the Carabao Cup with this superb curling effort.

The 21-year-old, who scored in the Community Shield against Arsenal and UEFA Super Cup against Sevilla, is pushing for more first-team opportunities.

He made 25 appearances for City last season across all competitions and ended the campaign as a Premier League, Champions League, and FA Cup winner.

Palmer then celebrated international success this summer alongside new Chelsea team-mates Levi Colwill and Noni Madueke when he lifted the European U21 Championship with England.

Follow Deadline Day with Sky Sports

Who will be on the move in the final day of the transfer window before it closes at 11pm on Friday in England and midnight in Scotland?

Keep up to date with all the latest transfer news and rumours in our dedicated Transfer Centre blog on Sky Sports' digital platforms. You can also catch up with the ins, outs and analysis on Sky Sports News.