Cole Palmer’s rise in football has significantly impacted his wealth. In 2024, his net worth and salary reflected his Chelsea FC contract. FC Bayern Net Worth provides an in-depth look into his finances.
Cole Palmer Quick Facts
| FACT | DETAIL |
|---|---|
| Real Name | Cole Jermaine Palmer |
| Popular Name | Cole Palmer |
| Gender | Male |
| Birth Date | May 6, 2002 |
| Age | 22 |
| Parents | Jermaine Palmer, Marie Palmer |
| Siblings | Hallie Jennifer Palmer |
| Birthplace | Wythenshawe, Manchester |
| Nationality | English |
| Ethnicity | Afro-Kittitian |
| Education | St. Bede’s College |
| Marital Status | Single |
| Net Worth | Over £4 million |
| Source of Wealth | Football, Endorsements |
| Height | 1.89 m (6 ft 2 in) |
| Position(s) | Attacking Midfield |
| Foot | Left |
| Player Agent | CAA Base Ltd |
| Current Club | Chelsea FC |
| Number | 20 |
| Joined | Sep 1, 2023 |
| Contract Expires | June 30, 2033 |
| Last contract extension | Aug 13, 2024 |
| Outfitter | Nike |
| Market Value | Current Market Value: €80.00m (May 27, 2024) Highest market value: €80.00m (May 27, 2024) |
| Youth Career | 2010–2020: Manchester City |
| Senior Career | 2020–2023: Manchester City (19 apps, 0 gls) 2023–: Chelsea (39 apps, 28 gls) |
| International Career | 2017: England U16 (2 apps, 0 gls) 2019: England U17 (3 apps, 0 gls) 2019: England U18 (9 apps, 2 gls) 2021–: England U21 (15 apps, 5 gls) 2023–: England (9 apps, 2 gls) |
| Medal Record | FA Cup, UEFA Champions League |
What is the Net Worth of Cole Palmer in 2024?
In 2024, Cole Palmer’s net worth is estimated to be over £4 million. This figure is increasing thanks to his contract at Chelsea FC and endorsement deals. His net worth places him among the rising stars compared to other footballers. Below are a few names in the industry for comparison:
What is Cole Palmer’s salary/income in 2024?
Cole Palmer’s salary in 2024 is primarily based on his nine-year contract with Chelsea FC, which he signed in August 2024. His annual base salary is £6.76 million, which is an impressive £130,000 weekly. His salary places him among the top earners in his position as an attacking midfielder in the Premier League.
This salary structure is significant for someone so young, with much of his income tied directly to his performance at Chelsea. Palmer’s contract, running until 2033, ensures long-term financial stability. Additionally, his salary will likely increase due to performance bonuses, further boosting his yearly earnings. With such impressive figures, Palmer has firmly established himself as a valuable asset to Chelsea FC.
While his weekly salary is substantial, Palmer also gains revenue through endorsement deals, particularly with Nike, adding even more to his net worth. This dual income stream ensures that Palmer’s financial growth will continue as he advances his football career.
Salary and Earnings Breakdown Over the Years
Current Contract(s) at Chelsea
Overview of Cole Jermaine Palmer
Cole Jermaine Palmer, born on May 6, 2002, is an emerging talent in English football. He plays as an attacking midfielder or winger for Chelsea in the Premier League. A product of the Manchester City academy, Palmer made his senior debut in 2020 and was instrumental in the club’s historic achievement of winning a continental treble in 2023, which included the Premier League, FA Cup, and UEFA Champions League.
In a significant career move, he transferred to Chelsea in 2023 for a fee of £40 million. His debut season was remarkable, as he scored 22 goals and provided 17 assists, earning him the titles of Player of the Season at Chelsea and Premier League Young Player of the Season. Additionally, Palmer has excelled on the international stage, winning the 2023 UEFA European Under-21 Championship and scoring in the final of UEFA Euro 2024, showcasing his potential as one of Europe’s top young players.
Early and personal life
Cole Jermaine Palmer, born on May 6, 2002, in Wythenshawe, Manchester, represents the rich heritage of multicultural England. Growing up with a dental engineer father and a dyslexia assessor mother, his father’s passion for football influenced him, and he watched him play in the Sunday league for nearly two decades.
Educated at St Bede’s College alongside the Manchester City Academy, Palmer showcases his Afro-Kittitian descent, with roots tracing back to his grandfather, who emigrated in 1960, and great-grandparents from the Windrush generation. He honors this heritage by adorning his boots with the flags of England and Saint Kitts and Nevis.
Club career
Early career
Cole Palmer, a Manchester United fan, joined Manchester City at the under-eight level, showcasing his talent through the Academy ranks. He captained the under-18s during the 2019–20 season. Despite concerns about his physique at 14, which led to suggestions for his release at 16, academy director Jason Wilcox intervened, ensuring his continued development within the club. This pivotal decision highlights Wilcox’s commitment to nurturing young talent in the academy.
Manchester City
Significant milestones have marked Cole Palmer’s journey with Manchester City since his debut on September 30, 2020, when he contributed to a 3–0 victory against Burnley in the EFL Cup. His first goal came on September 21, 2021, showcasing his talent in a 6–1 triumph over Wycombe Wanderers. On October 19, 2021, he made headlines by scoring his first UEFA Champions League goal in a 5–1 win against Club Brugge. His FA Cup debut was equally impressive, netting a goal in a 4–1 victory over Swindon Town on January 7, 2022.
Palmer continued to shine, scoring the opening goal in the 2023 FA Community Shield against Arsenal on August 6, 2023, although the match ended in a penalty shoot-out loss for City. His time with the club culminated in an equalizing goal during the 2023 UEFA Super Cup, contributing to a dramatic 5–4 victory on penalties against Sevilla after a 1–1 draw.
Chelsea
Palmer’s transition to Chelsea in the 2023–24 season was a significant breakthrough in his career. He immediately impacted by signing a seven-year contract for an initial fee of £40 million, potentially rising by £2.5 million in add-ons. Despite debuting as a substitute in a loss to Nottingham Forest, his first goal came just weeks later, from a penalty against Burnley, where he also assisted another goal, showcasing his dual threat as a scorer and playmaker.
Palmer’s performance peaked in December, netting four goals and two assists, which earned him a nomination for the Premier League Player of the Month. He scored a crucial stoppage-time penalty against Manchester City, contributing to a thrilling 4–4 draw. He continued to excel, culminating in a standout April where he scored his first career hat-trick against Manchester United, making him the 200th player in Premier League history to achieve this feat.
By the end of the 2023-24 season, Palmer had amassed an impressive tally of 27 goals and 15 assists across all competitions. This outstanding performance led him to receive the prestigious Premier League Young Player of the Season and PFA Fans’ Player of the Year awards. Supporters also recognized him as Chelsea’s Player of the Season, underscoring his success.
Entering the 2024–25 season, Palmer signed an extended nine-year contract with Chelsea. He continued his remarkable form by scoring his first goal of the season against Wolverhampton Wanderers and assisting three more goals in that match. This performance solidified his status as a critical player. It earned him the Premier League Goal of the Month award for August 2024, making him the first player to win it consecutively across two seasons. Palmer’s ascent in English football is marked by his consistent performance and significant contributions to Chelsea’s attacking prowess.
Career Earnings and Contracts of Cole Palmer
When considering the trajectory of a professional footballer’s career, the evolution of their financial earnings is as significant as their performance on the pitch. Cole Palmer, at 22, has become an influential figure, particularly following his move to Chelsea. Dissecting his financial history gives us insights into his value, contracts, and potential future earnings.
Earnings Overview
As of the 2024-2025 season, Cole Palmer earns a weekly salary of £130,000, translating to an annual base salary of £6,760,000. With no bonuses added to this base, it reflects a solid earnings structure derived from Chelsea’s commitment.
The total gross value of his contract, which runs for nine years (from 2024 to 2033), amounts to a staggering £60,840,000. Cole Palmer’s long-term contract secures his position in Chelsea for nearly a decade, symbolizing the club’s confidence in his abilities and the future potential growth in football value.
Earnings by Year and Progression
Analyzing the breakdown of his financial progression through the years showcases the growth of his income alongside the development of his career:
| Season | Gross P/W (GBP) | Gross P/Y (GBP) | Age | Club |
|---|---|---|---|---|
| 2023-2024 | £80,000 | £4,160,000 | 21 | Chelsea |
| 2022-2023 | £20,000 | £1,040,000 | 20 | Man City |
| 2021-2022 | £20,000 | £1,040,000 | 19 | Man City |
| Total | – | £6,240,000 | – | – |
This table illustrates the growth in his earnings, from a modest £20,000 per week at Manchester City to a gradually increasing £80,000 per week during the 2023-2024 season with Chelsea. The shift in salary reflects his rising prominence within the football world and recognition of his talent.
Current Contract Structure
The current contract with Chelsea, starting in 2024, positions him as a pivotal player for the team. It spans 9 years with no release clause, making it clear that Chelsea aims to build a long-term future with Cole Palmer as a centerpiece. The contract details are as follows:
- Weekly Salary: £130,000
- Annual Salary: £6,760,000
- Contract Length: 9 years (until 2033)
- Total Contract Value: £60,840,000
Contract Timeline
Cole Palmer’s contract stands out for its longevity. Signed in August 2024, it runs until June 2033, providing stability and securing his future at Chelsea for the prime years of his career. The length and financial terms of the deal ensure that he remains one of Chelsea’s most valuable assets, both on and off the pitch.
Career Earnings Breakdown
As of 2024, he has earned a total career salary of £6,240,000, including the previous years at Manchester City. Starting with a modest salary during the initial stages of his career, the shift to Chelsea saw a marked increase in financial rewards.
| Year | Gross P/W (GBP) | Gross P/Y (GBP) | Adjusted Gross (GBP) | Club |
|---|---|---|---|---|
| 2023-2024 | £80,000 | £4,160,000 | £4,160,000 | Chelsea |
| 2022-2023 | £20,000 | £1,040,000 | £1,040,000 | Man City |
| 2021-2022 | £20,000 | £1,040,000 | £1,040,000 | Man City |
| Total | – | £6,240,000 | – | – |
With adjusted gross earnings of £6,240,000, he has seen significant financial growth, particularly from his recent move to Chelsea.
Contracts and Future Earnings
Cole Palmer has secured a solid financial foundation, yet the potential for further growth in earnings remains, considering the following factors:
- Bonuses: While the current contract does not indicate bonuses, future performance-based incentives (such as goal-scoring, assists, or winning titles) could significantly increase his total earnings.
- Endorsements and Sponsorships: Beyond club salaries, top footballers often secure lucrative endorsement deals, and he is no exception. He has already partnered with Nike, adding to his total net worth, rumored to exceed £4 million.
- Potential Contract Extensions: Should he continue performing at a high level, Chelsea may offer him a contract extension or salary improvement, further boosting his financial trajectory.
Transfer Fees and Market Value of Cole Palmer
Cole Palmer, an English professional footballer, has remarkably increased value throughout his career. The football world watched as his market value surged during his development, from Manchester City’s youth teams to his current role at Chelsea. His journey is a testament to his skill and potential, translating into a sharp rise in his market worth and significant transfer fees.
Career Development and Market Value Growth
Palmer’s growth can be traced from his early days at Manchester City. He started with a modest market value of €500k in 2021 when he played for Manchester City U23. By December of the same year, his value had jumped to €3.00m, reflecting his talent and promise. By 2022, his value rose steadily, reaching €15.00m by the end of that year, marking his transition from a promising talent to an integral part of Manchester City’s senior team.
The first significant leap in his market value came after his move to Chelsea in 2023 when his value doubled from €18.00m to €32.00m within months. His continued impressive performances at Chelsea led to further increases, reaching €80.00m by May 2024, the highest point of his career.
Transfer History and Fees
Palmer’s transfer history highlights his growth and importance in the football world. Starting with Manchester City’s youth academy, Palmer rose to play for Manchester City’s U23 team in 2020. There were no transfer fees during these early years, but by 2023, Palmer had grown significantly in value.
The pivotal moment in his career came in the 2023/24 season when Chelsea signed him from Manchester City. His transfer fee at that time was €47.00m, a substantial figure considering his earlier value at Manchester City. This was a significant investment for Chelsea, and Palmer quickly justified the expense by delivering outstanding performances in the Premier League. His development at Chelsea since then has been closely aligned with his rising market value, which peaked at €80.00m in 2024.
Palmer’s story reflects how his market value and transfer fees grew steadily, driven by consistent performances and career progress. Below is a table summarizing his growth trajectory:
| Year | Club | Market Value (€) | Age |
|---|---|---|---|
| Mar 2021 | Manchester City U23 | 500k | 18 |
| Dec 2021 | Manchester City | 3.00m | 19 |
| Jun 2022 | Manchester City | 6.00m | 20 |
| Sep 2022 | Manchester City | 10.00m | 20 |
| Nov 2022 | Manchester City | 15.00m | 20 |
| Jun 2023 | Manchester City | 15.00m | 21 |
| Jul 2023 | Manchester City | 18.00m | 21 |
| Oct 2023 | Chelsea | 32.00m | 21 |
| Dec 2023 | Chelsea | 45.00m | 21 |
| Mar 2024 | Chelsea | 55.00m | 21 |
| May 2024 | Chelsea | 80.00m | 22 |
Summary of Transfer and Market Price Growth
Palmer’s steady growth in market value and his €47.00m transfer fee in 2023 illustrate how his talent and contributions on the field have continually increased. The rise from a youth player at Manchester City to a key figure at Chelsea, with an €80.00m valuation, highlights his potential as one of the Premier League’s most valuable assets.
International career
Cole Palmer’s journey through international football showcases his rapid rise and significant contributions to various England national teams. His international career began when he represented the England national under-17 team at the 2019 UEFA European Under-17 Championship, marking the start of his promising trajectory.
On 27 August 2021, Palmer received his first call-up to the England under-21s. He made an immediate impact by scoring on his debut during a 2–0 victory over Kosovo in qualifying for the 2023 UEFA European Under-21 Championship. His performance earned him a spot in the squad for the tournament, culminating in a memorable victory as the Young Lions clinched the title.
Palmer took a significant step forward on 13 November 2023, earning his first call-up to the senior England national team for the UEFA Euro 2024 qualifying matches against Malta and North Macedonia. He made his senior debut on 17 November, coming off the bench in a 2–0 win over Malta at Wembley Stadium.
In May 2024, he was included in the 33-man preliminary squad for UEFA Euro 2024. Notably, on 3 June, he made his first start, scoring his inaugural senior goal in a friendly against Bosnia and Herzegovina.
Palmer played a crucial role throughout the tournament, particularly in the knockout stages, where he scored in the quarter-final against Switzerland and assisted the winning goal in the semi-final against the Netherlands. His remarkable equalizer in the final against Spain displayed his growing importance to the national team, despite England ultimately finishing as runners-up.
Style of play
Cole Palmer is a dynamic playmaker celebrated for his penalty-taking skills, exceptional passing, and dribbling abilities. His capacity to create and score goals sets him apart, as he frequently attempts long-range shots and adeptly cuts inside opposing defenses.
Notably left-footed, Palmer also demonstrates proficiency with his right foot, showcasing his versatility. Former manager Lee Johnson praised him as a “matador showing his shoulder,” highlighting his technical prowess.
His composure on the pitch has earned him the nickname “Cold Palmer.” His signature celebration—arms crossed with hands rubbing his shoulders—pays homage to former teammate Morgan Rogers.
Honors
Cole Palmer, a prodigious talent in the world of football, has rapidly ascended to prominence through his remarkable achievements and contributions on the pitch. His tenure at Manchester City has been marked by unparalleled success, securing the Premier League title, the FA Cup, and the UEFA Champions League in the 2022–23 season. This remarkable feat was further complemented by the UEFA Super Cup triumph in 2023, showcasing his role in one of the most formidable teams in modern football.
Transitioning to Chelsea, Palmer continued to shine, earning recognition as a runner-up in the EFL Cup during the 2023–24 season. His impact was not limited to club football; he also played a pivotal role in leading the England U21 team to victory in the UEFA European Under-21 Championship in 2023. His leadership and performance solidified his status as a key player on the international stage, making the audience proud of his achievements.
Individually, Palmer’s talents have been widely acknowledged. He was honored with multiple accolades during the 2023–24 season, including the London Football Awards Men’s Young Player of the Year and Chelsea’s Player of the Season. His prowess earned him the Premier League Player of the Month award in April 2024, along with distinctions for Goal of the Month and Young Player of the Season. Recognized by fans and peers alike, he was also named PFA Fans’ Player of the Year and PFA Young Player of the Year.
Social Media Accounts
FAQs About Cole Palmer
How many trophies has Cole Palmer won?
In 2022/23, the 21-year-old established himself as a regular in the City squad. He made 25 appearances across all competitions and ended the campaign as a Premier League, Champions League and FA Cup winner.
How much is Cole Palmer to Chelsea?
Chelsea forward Cole Palmer has been in incredible form since signing for the club from Manchester City for a fee of £40 million in 2023.
Is Cole Palmer a winger?
Palmer, a left-footed attacking player, is known for his versatility. He can play wide as part of a front three or in a central number 10 position. His notable ability to break the opposing back line with a pass, especially with deft through balls that bend inwards, further highlights his adaptability.
How much is Cole Palmer’s contract worth?
After his transfer to Chelsea, Cole Palmer signed a significant 9-year, $60,840,000 contract. This includes an average annual salary of $6,760,000, making him one of the highest-paid players on the team. In 2024, Palmer will earn a base salary of $6,760,000 while carrying a cap hit of $6,760,000, further underlining his value to the team.
How much did Cole Palmer cost Chelsea?
Chelsea’s decision to spend up to £42.5 million ($54m) on Cole Palmer was not without risk. At the time of the transfer, he had only made 19 Premier League appearances for Man City, leaving many in suspense about his potential at the new club.
How much does Cole Palmer get paid per week?
Cole Palmer’s new bumper salary has been revealed after he signed a Chelsea contract extension, with his fresh deal running until the summer of 2033. The impact of his contract extension is significant- Palmer was previously earning £ 80,000 a week. Still, according to the latest reports, the 22-year-old will pocket a more substantial weekly wage of around £130,000.
Conclusion
Cole Palmer’s rise to success is evident in his growing wealth and status in the football world. If you enjoyed this breakdown of his finances, feel free to comment, share this article, or explore more insights on fcbayernnetworth.com.
I’m Archie Rhind-Tutt, a sports correspondent for ESPN, specializing in German soccer, particularly the Bundesliga. My reporting brings in-depth analysis and engaging storytelling to a global audience. Additionally, I author FC Bayern Net Worth (fcbayernnetworth.com), a website similar to Celebrity Net Worth but focused exclusively on football players. There, I explore and analyze the financial aspects and net worth of football stars, providing insights into their earnings and financial decisions. My expertise in sports finance allows me to deliver detailed and compelling content for readers interested in the economic intricacies of the football world.
