Cole Palmer has expressed his delight after signing a new long-term contract extension with Chelsea. On Tuesday, Palmer confirmed the extension, which keeps him at Stamford Bridge until 2033 and includes a significant salary increase in recognition of his impressive debut season.
Chelsea quickly announced Palmer’s extension, congratulating the 22-year-old on his new deal. “I’m delighted to sign this new deal,” Cole Palmer said. “I achieved a lot in my first season here, and I hope to continue experiencing great things at this club, both personally and in terms of bringing success and trophies to Chelsea.”
Previously earning around £80,000 per week, Palmer’s new contract brings his salary closer to that of midfield partners Enzo Fernandez and Moises Caicedo, who each earn over £120,000. Chelsea’s contract strategy typically features lower base wages but offers substantial incentives for on-field performance and club success.
Many Chelsea players have contract clauses that reduce their wages if the team does not compete in the Champions League but offer significant bonuses for leading the team back to Europe’s elite competition. The average wage for Chelsea’s senior squad now stands at £60,000 per week, down from the £200,000 per week under the previous owner, Roman Abramovich. Raheem Sterling remains the highest earner, with a salary exceeding £300,000 per week.
