From Manchester City, Chelsea has signed England Under-21 forward Cole Palmer for an initial fee of £40 million.

He has signed a seven-year contract with a one-year extension option, which includes a further £2.5m in add-ons.

Earlier this summer, Palmer won the European Under-21 Championship with England.

It’s great to sign and I’m looking forward to getting started,” he said.

Chelsea sounds like a good project, and I will be able to showcase my skills there because of the platform.

The squad is young and hungry, so hopefully we can accomplish something.”

As well as scoring in City’s Uefa Super Cup victory over Sevilla, Palmer also scored in the Community Shield defeat of Arsenal.

The City manager had previously said Palmer could not go on loan. Early this summer, West Ham showed interest in signing him, but it was thought to be a loan deal.

Laurence Stewart and Paul Winstanley said Cole’s Premier League and Champions League experience adds further quality and versatility to Chelsea’s attacking unit.

At the European Under-21 Championships, he showed his talent and potential in challenging environments.

It is clear he is ready for the next step, and we are thrilled that it will be with Chelsea.”

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