Cole Palmer had an amazing 2023–24 season, and Chelsea rewarded him with a new contract. However, the most surprising aspect of the agreement is still shocking to supporters.
Palmer led the Blues back to playing in Europe last season, tallying 22 goals and dishing out eleven assists.
The 22-year-old, who cost over £40 million when he signed from Manchester City in August of last year, was Chelsea’s finest player all season long and won a spot in Gareth Southgate’s England team.
Palmer scored a goal in the championship game that England lost 2-1 to Spain after putting in several strong displays off the bench in Germany.
He now has an astonishing nine-year contract from the Blues to stay at Stamford Bridge.
Palmer signed an eight-year contract last summer, and according to Fabrizio Romano, Chelsea extended it by two years and gave him a well-earned pay rise.
The contract is believed to be the longest ever signed in English football history. The new Blues ownership is renowned for offering new players long contracts in order to get around Premier League financial regulations.
Why has Chelsea offered Cole Palmer this long of a contract?
According to Kieran Maguire, a football financial expert, Palmer’s longer contract allows Chelsea to list his player amortization—the annual amount clubs pay for a player over the length of their contract—as having been paid less.
Palmer, who was named in the six-player shortlist for the men’s PFA Player of the Year award, has concluded a wonderful 24-hour period with the new agreement.
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Erling Haaland, Martin Odegaard, Rodri, Phil Foden, and Ollie Watkins will be his rivals for the top prize, which will be awarded on Tuesday, August 20.
Palmer is competing with Bukayo Saka, Michael Olise, Alejandro Garnacho, Kobbie Mainoo, and Joao Pedro for the men’s PFA Young Player of the Year award.
