Cole Palmer has expressed his excitement after securing a new long-term contract extension with Chelsea.
The news of Palmer’s extension surfaced earlier on Tuesday, revealing that he had signed a two-year extension, which now keeps him at Stamford Bridge until 2033.
This new deal, which also comes with an enhanced salary, is a reward for Palmer’s outstanding performances during his debut season with the club.
Chelsea confirmed the contract extension shortly afterward, congratulating the 22-year-old on his new deal.
Palmer shared his enthusiasm, saying, “I’m delighted to sign this new deal. I achieved a lot in my first season here and hopefully I can continue to experience great things at this club, both on a personal level and in terms of bringing success and trophies to Chelsea.”
Previously earning around £80,000 per week, Palmer’s new contract reportedly brings his salary in line with fellow midfielders Enzo Fernandez and Moises Caicedo, who earn over £120,000 per week, according to The Telegraph.
Chelsea’s contract strategy focuses on offering lower base wages but includes substantial performance-based incentives, allowing players to boost their earnings through their contributions on the pitch and the club’s achievements.
In addition, many of Chelsea’s player contracts feature clauses that reduce wages if the team fails to qualify for the Champions League, while also offering significant bonuses for those who help secure the club’s return to Europe’s premier competition.
Under the club’s current management, the average wage for senior players is approximately £60,000 per week, a significant decrease from the £200,000 per week average during Roman Abramovich’s tenure as owner.
Raheem Sterling currently stands as Chelsea’s highest earner, with a weekly wage exceeding £300,000.
