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CHELSEA have completed a deal for Cole Palmer and taken Todd Boehly's transfer spending through the £1billion barrier.

The winger is joining The Blues from Manchester City for an initial £40m with a further £2.5m in add-ons.

Cole Palmer has completed a move to Chelsea
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Cole Palmer has completed a move to ChelseaCredit: Getty

That means chairman Boehly has splurged an astonishing £1,032,250,000 since taking over the club last May.

Chelsea swooped for Palmer on Tuesday and should register him in time to make his debut against Nottingham Forest tomorrow but it is highly unlikely he will play.

Palmer, 21, is one of Manchester City's rising stars but said in the summer that he may consider his future because of his need for first team football.

But he is joining one of the biggest and most expensive squads in the world where there are several players already in his position.

Palmer is joining just as fellow wideman Callum Hudson-Odoi leaves to join Premier League rivals Nottingham Forest.

He becomes Chelsea's 11th arrival of the summer and the fourth most expensive behind Moises Caicedo, Romeo Lavia and Christopher Nkunku.

Palmer scored the opening goal in Man City's Community Shield defeat to Arsenal last month, before also netting in their Super Cup win over Sevilla.

But he has managed just ten minutes of action in their first three Premier League games - with that cameo coming off the bench in a 3-0 victory over Burnley.

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Palmer registered six goals and two assists in 41 games for City, and he becomes their seventh permanent departure of the summer.

Brighton were also interested in signing Palmer but saw a £30m bid rejected by the Citizens earlier this summer.

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