Young striker Cole Palmer has signed a new contract with Chelsea, committing him to the club until 2033 after an impressive first season at Stamford Bridge.

Chelsea have officially announced a contract extension with striker Cole Palmer, extending his commitment to the club until June 2033. This is an important move by The Blues to retain their brightest star of last season.

Cole Palmer – 22, had an incredible debut season at Stamford Bridge in the 2023/2024 season. He scored 25 goals and provided 15 assists in all competitions, becoming one of Chelsea’s most important players.

This excellent performance prompted the club’s board to decide to offer a contract extension, even though Palmer still had quite a long term left on his old contract.

Palmer signed a new contract after just his first season at Chelsea

Palmer’s new contract will run until 2033, two years longer than his previous deal, showing that Chelsea have a lot of faith in the young Englishman’s future.

Alongside the extension, Palmer has also received a significant pay rise, with his weekly wages reportedly rising from £80,000 to over £120,000, putting him on par with the club’s other high-profile stars such as Enzo Fernandez and Moises Caicedo.

Palmer joined Chelsea from Manchester City in the summer of 2023 for a transfer fee of around £42.5 million. This decision by Chelsea has proven to be the right move as Palmer quickly integrated and became a mainstay in the Blues’ squad.

The young striker has had an impressive season at The Blues

Not only shining at club level, Palmer also made his mark for the England team when scoring in the Euro 2024 final against Spain last July.

Speaking after signing his new contract, Palmer expressed his excitement: “I am delighted to sign this new contract. My first season here has been very rewarding and I hope to continue to experience great things at this club, both personally and in bringing success and trophies to Chelsea.”

Chelsea’s practice of extending the contracts of promising young players to long-term contracts has become a trend since Todd Boehly took over the club in 2022. Many players have been signed into contracts that run into the next decade, and the trend looks set to continue.

According to The Telegraph, Chelsea are also planning to negotiate a contract extension with striker Nicolas Jackson, extending his commitment from 2031 to 2033.

Palmer is the only player nominated for two of the latest PFA awards

New head coach Enzo Maresca, who worked with Palmer at Manchester City, is highly rated for the youngster’s potential. He stressed that Palmer needs to continue to work hard, especially in his work off the ball, to maintain his place in the squad.

Maresca believes that with his talent and hard work, Palmer will continue to develop and make an important contribution to Chelsea in the future.

The contract extension with Cole Palmer is a positive signal for Chelsea in the process of building a young and potential squad.

With his talent and dedication, Palmer is expected to become one of the important pillars of The Blues for many years to come, helping the club conquer important domestic and continental titles.