(Credit: Manh Tung - Breaking Media)

James Murray

Thu 23 April 2026 7:30, UK

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Cole Palmer could be valued at up to £130million if Chelsea decide to cash in on the attacking midfielder this summer. 

That is according to former Manchester City financial adviser Stefan Borson, who exclusively told Football Insider Real Madrid and PSG are the only clubs who could pay that kind of money for the 23-year-old.

Palmer, who joined Chelsea for £42.5m in the summer of 2023, has been linked with a move away from Stamford Bridge following his side’s disappointing campaign.

The Blues currently sit seventh in the Premier League table, leaving their Champions League qualification hopes hanging by a thread.

Chelsea could lose several key players if they fail to qualify for the elite European club competition this season. 

Why Chelsea could agree to sell ‘key player’

Enzo Fernandez’s future is also in doubt as speculation has emerged around a potential move to Real Madrid. 

Chelsea signed the Argentina international for £107m from Benfica in February 2023, making it difficult for the club to get their money back on the midfielder. 

Speaking exclusively to Football Insider, Borson discussed Chelsea’s situation heading into the summer transfer window.

“Next season is going to be interesting depending on what happens with Europe and their transfer business this summer,” said Borson.

“It also depends on whether they decide to sell one of the success stories, so Palmer or Fernandez. But it’s very hard to make a profit on Fernandez.

“It’s easier to make a profit on Palmer, but the question is where’s he going to go? For the sake of discussion, let’s say they want £130m. We know there’s probably two teams that can do it if they theoretically wanted to, and that’s Real Madrid and PSG. 

“I don’t think anybody else can do that deal. Frankly, I’m not sure that either of those clubs would be interested in doing that deal.

“Fernandez, let’s say someone will pay £80m for him, but it’s not going to make any profit, so that’s the problem there. Of course, they’re going to lose a key player, and you would think they have to replace that key player, so how does that really advance you?” 

Why Chelsea are facing Nicolas Jackson transfer ‘issue’

Chelsea are also looking to sell Nicolas Jackson, with Bayern Munich unlikely to sign the striker permanently this summer. 

The Bundesliga giants paid a £14m loan fee, while a £56m obligation-to-buy clause was included in the deal depending on appearances.

Borson insisted Chelsea could face issues trying to sell Jackson once he returns to Stamford Bridge after the required number of appearances has not been met at Bayern Munich.

“You have got the problem with Jackson, who’s obviously not going to Bayern Munich,” said Borson.

“Where does he go? How many teams can really afford the fee that Bayern were prepared to pay? Will somebody pay £55m?

“There are a few teams that could pay that, but those are the challenges that Chelsea have got.”