Ipswich Town splurges on Palacios, shattering €200m ceiling

Midfielder Exequiel Palacios departs Bayer Leverkusen after six and a half years to join Premier League newcomers Ipswich Town, with the English side confirming the signing late Thursday evening. The deal marks another milestone in the club's aggressive summer spending programme.

Ipswich Town's spending surge and Palacios deal

Ipswich Town’s buying spree continues as the Tractor Boys announced the official signing of the former Leverkusen midfielder on Thursday night. The club confirmed the addition without revealing the exact fee.

Reports suggest the transfer fee lies between €22.5 million and €25 million, with performance‑related bonuses capable of pushing the total to €30 million. The sum reflects the club’s willingness to invest heavily in new talent.

Palacios has agreed to a five‑year contract that runs until the summer of 2030, securing his long‑term future at the Premier League promoted side.

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Palacios' journey from River Plate to Bayer Leverkusen

In January 2020, Bayer Leverkusen secured Palacios from Argentine giants River Plate for €17 million, bringing the midfielder to the Bundesliga.

During his spell at the Werkself, he made 186 appearances and helped the team capture the national double in the 2023/24 season under Xabi Alonso.

His performances earned him a place in the Argentine national team, including participation in the 2022 World Cup triumph.

Ipswich Town’s expenditure now tops the €200 million mark on the spending side, a total divided among 13 new signings. Palacios ranks among the four most expensive arrivals and becomes the 19th foreign player in Gary O'Neil’s squad, as well as the 16th Argentine to feature in the Premier League.