Story by
Ipswich Close to Exequiel Palacios Agreement After €27.5m Offer to Bayer Leverkusen
- Story by
- Ipswich Close to Exequiel Palacios Agreement After €27.5m Offer to Bayer Leverkusen
(USA TODAY Sports via Reuters Connect)
Exequiel Palacios is finally closing in on a move to Ipswich Town, with the Premier League club now close to an agreement with Bayer Leverkusen after making a significantly improved offer for the Argentine midfielder.
According to David Ornstein , Ipswich's latest proposal is worth €22.5 million up front plus €5 million in potential bonuses, taking the package to €27.5 million. The two clubs are now close to finalising the deal, with Palacios set to sign a four-year contract if an agreement is completed.
Advertisement
It is a considerable step forward from where negotiations began.
The Athletic reported that Ipswich's initial offer of around €15 million was rejected by Leverkusen, who were looking for a significantly higher fee for a player contracted until 2030. Die Werkself's valuation had been in the region of €35–40 million, but the latest proposal appears to have brought the two clubs closer to a compromise.
For Leverkusen , the decision to accept a lower figure than their original valuation is understandable when the wider context is considered.
Palacios had already made it clear internally that he wanted to leave the club. The 27-year-old was even willing to lower his own financial demands to make a move possible, meaning holding onto him would risk keeping a player who was no longer fully committed to remaining in Germany.
Advertisement
There is also a changing midfield hierarchy at Leverkusen.
The club has been reshaping the position under Carles Martínez, with Kennet Eichhorn brought in as a long-term investment and Equi Fernández impressing during pre-season. Aleix García and Malik Tillman also provide options in midfield, while Robert Andrich has been informed that he is free to leave before the transfer deadline.
Palacios' departure therefore fits into a wider transition rather than representing a sudden loss of faith in a player who has been an important part of Bayer's rise.
His importance should not be underestimated, though.
Advertisement
Palacios arrived from River Plate in 2020 and went on to make 185 appearances for Leverkusen , contributing 15 goals and 17 assists. He was an important part of the team that won the Bundesliga and DFB-Pokal in 2023/24, while also playing a role in Argentina's 2022 World Cup triumph.
His career in Germany was interrupted last season by a four-month absence with a right adductor injury, limiting him to 25 appearances across all competitions.
Now, after almost six years at the club, he is preparing for a completely different challenge.
For Ipswich, Palacios would represent a major investment in experience. The newly promoted Premier League club has already strengthened its midfield with Saša Lukić and Florentino Luís, but Palacios would add something different: experience at the highest level of European football and the authority of a World Cup winner.
Advertisement
His arrival would also be historic.
Should the transfer be completed, Palacios would become the first World Cup winner ever to represent Ipswich Town.
The deal is not quite done yet, but after several rounds of negotiations, the finish line is finally visible.
Leverkusen are set to receive a respectable fee, Ipswich are getting the experienced midfielder they wanted, and Palacios is finally getting the new challenge he has been looking for.
After weeks of back and forth, this time, a breakthrough appears genuinely close.
