Chelsea have Cole Palmer plan after sensational first season

Chelsea are set to open contract talks with Cole Palmer before the season's end as the Blues plan to reward the in-form star with a lucrative new deal, potentially paving his way to Euro 2024.

Palmer has emerged as Mauricio Pochettino's key player during a challenging season at Stamford Bridge, growing in influence with each game, especially after his impressive four-goal performance against Everton on Monday night.

His current contract runs until 2030, and while there's no rush to seal a new deal, Chelsea aim to acknowledge Palmer's stellar form with a significant salary increase, reports the Mirror. The ex-Manchester City youngster currently pockets over £80,000 per week, considerably less than most of his Chelsea colleagues, many of whom have struggled to shine under Pochettino this term.

For example, Raheem Sterling reportedly earns around £325,000 weekly, and Chelsea plan to narrow the wage gap between Palmer and the club's highest earners as they prepare for the future. The 21-year-old attacking midfielder has put forth a compelling argument to be named in both the PFA Player and Young Player of the Year awards, having netted 20 goals in the Premier League this season and provided nine assists.

In an effort to reduce their wage bill this summer, Chelsea anticipate departures from players like Thiago Silva, Malang Sarr, Romelu Lukaku, Kepa Arrizabalaga, and Hakim Ziyech, The Blues might also look to enhance any new deal for Palmer with performance-based incentives, ensuring he continues his on-pitch excellence for the foreseeable future, his current contract does not include a goal-bonus.

Pep Guardiola was adamant last August that there would be no loan move for the England international after he scored in Man City's Super Cup victory over Sevilla. He also found the net for City in their Community Shield loss to Arsenal at Wembley before finalising his surprising £42.5million move to west London.

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Brighton had a bid turned down for the forward, and West Ham also expressed interest in him. Palmer now seems set to secure his spot in Gareth Southgate's England squad for Euro 2024 in Germany as he aims for a starting position.

In his debut season at Stamford Bridge, he has outscored and outperformed the likes of Bukayo Saka, Phil Foden, Jack Grealish, Jarrod Bowen, Anthony Gordon and Marcus Rashford, and is currently neck-and-neck with Erling Haaland in the race for the Golden Boot.