Chelsea have signed England Under-21 forward Cole Palmer from Manchester City for an initial £40m.
The deal includes a further £2.5m in add-ons and the 21-year-old has signed a seven-year contract with the option of a further year.
Palmer was part of the England side which won the European Under-21 Championship earlier this summer, and is a product of the City academy.
“I’m excited to get started and it feels great to sign,” he said.
“I’ve joined Chelsea because the project here sounds good and because of the platform I will have to try to showcase my talents.
“It is a young and hungry squad and, hopefully, we can do something special.”
“He is a fit for the project, a young talented player,” said Chelsea manager Mauricio Pochettino.
“He expects to play more. He’s seen the project for him to improve his game and be more involved.”
However the Argentine said he will not be putting pressure on Palmer to deliver immediately.
