Chelsea confirmed that Cole Palmer signed a new deal until 2033. The 22-year-old has agreed a two-year extension on his existing contract and has a payrise too.
Palmer has made 48 appearances since joining from Manchester City, scoring 27 goals with 15 assists. The England international had a dream debut season at Stamford Bridge and looks to have a bright future.
Chelsea have tied Palmer for another nine years, but the new contract is controversial due to its length. The 22-year-old looks to have a bright future, but will Chelsea be made to regret the decision?
How much will Palmer earn?
Ben Jacobs of Give Me Sport and talkSPORT says Palmer will earn £130k-per-week at Chelsea. His salary will continue to rise based on how long he stays at Chelsea and the success of the team.
Jacobs said: “Palmer is now one of the top earners at (Chelsea) with a wage close to £130k-per-week. Will go up incrementally during his time at Chelsea and is an incentive-driven package that will also increase with team success.”
The Englishman was named PFA Young Player of the Year for last season, so there’s no ceiling to his talent. It’s no surprise why Chelsea want to hold on to their best players, but they’ve come under scrutiny.
Landmark contract for Palmer is controversial
Per Goal, some supporters believe it’s a mistake, even after a fantastic season, as Palmer could end up stuck. Paul Merson is one of many pundits to speak against the decision too. Should Palmer suffer decline, Chelsea will have to pay his wages for nine years regardless. And should Palmer want to leave the club before 2033, Chelsea hold the keys to his career.
Chelsea are getting criticised for their cynical approach in signing players to long-term deal too. This new deal is the longest in football and allows Chelsea to spread the cost over more seasons. It’s a big show of faith just 12 months on, so Palmer will want to build on 2023/24.
