Premier League debut: Exequiel Palacios joins Ipswich Town in €27.5m deal

Exequiel Palacios became Ipswich Town’s newest signing on Thursday, moving to the newly promoted Premier League side from Bayer Leverkusen on a contract that runs until 2030, while River Plate is set to receive a substantial fee for the Argentine midfielder.

Fee structure and River's windfall

The transfer was reported by Fabrizio Romano as a €22.5 million base fee with up to €5 million in performance‑related variables, raising the potential total to €27.5 million. Sky Germany had earlier suggested a €25 million base plus the same €5 million bonuses. River Plate will collect roughly €1,287,500 through two mechanisms: a 3.5 % FIFA solidarity payment of about €787,500 and a 10 % sell‑on clause that adds €500,000.

Creative video introduces PALACIOS

The club unveiled the midfielder with a light‑hearted video showing PALACIOS EN EL IPSWICH TOWN driving a tractor, meeting a horse and posing for photos. The clip was posted under the nickname “Los Chicos del Tractor”. The presentation highlighted the player’s personality and featured the words EN and El as part of the narrative.

Bundesliga record and club comments

During his six‑and‑a‑half years at Bayer Leverkusen, Palacios made 186 official appearances and scored 15 goals, contributing to the 2023/24 Bundesliga and DFB‑Pokal double, the first unbeaten season in German league history. Sporting director Simon Rolfes said, “With this transfer we fulfil Exequiel Palacios’s great desire to prove himself in the Premier League after his outstanding spell in the Bundesliga.” The 27‑year‑old midfielder added, “At Bayer 04 I matured football‑wise, they trusted me and I developed everything that defines me on the pitch today.”

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Palacios is the 14th signing for Ipswich in this summer market, joining fellow South American Julio Enciso, who returned from Strasbourg in a deal estimated at around €30 million. The two players met at the 2026 World Cup, where Argentina reached the final and Paraguay made the round of 16.

Internationally, Palacios has earned 41 caps for Argentina, winning the 2022 World Cup in Qatar, the Copa América in 2021 and 2024, and playing in the final of the 2026 World Cup. His experience adds a proven winner to the Ipswich squad.

Having put pen to paper, Palacios said, “I am delighted to have signed for Ipswich Town. This is a club with great ambition and I am excited to play football in England and compete against some of the best clubs and players in the world.”