Chelsea have announced that Cole Palmer has signed a bumper new contract that is set to keep him at the club until 2034.

The playmaker is loving life under new manager Xabi Alonso and has now reaffirmed his long-term commitment to the club. Palmer, who was at times heavily linked with a move to Man Utd and Man City earlier this year, will stay at Chelsea for the foreseeable future.

The Blues have confirmed that Palmer has tacked an additional year onto his existing contract, which previously ran until 2033. David Ornstein reports that the 24-year-old has received "improved terms" in recognition of his importance to the club.

After two down years, Palmer now looks back to his best. Playing alongside long-time friend Morgan Rogers in Alonso's system has unlocked the attacking midfielder, and he is starting to look like the player who took the Premier League by storm in his first season at Chelsea in 2023/24.

Palmer has bagged two goals and two assists in five Premier League outings so far, while he also netted a brace in the Blues' comeback win over Leeds United in the Carabao Cup.

Palmer signs contract extension

Despite the speculation over a supposed desire to return to the Northwest, the Manchester-born star has been very clear that he sees his mid- to long-term future at Chelsea. His new contract is confirmation of this.

Palmer insists that putting pen to paper was a no-brainer after holding talks with the ownership, the club's sporting directors and Alonso. "Chelsea means a lot to me, and I think the club is going in the right direction, so I'm delighted to sign and I’m obviously very happy," he said.

"Speaking to the owners, to the sporting directors and obviously the manager, they gave me a lot of confidence, so it was only right to sign. Speaking to players as well, everyone has the same ambitions.

"I feel like we win major trophies here consistently, and I want to be a part of that and play a big role in it too."

To date, Palmer has won two pieces of silverware with the Stamford Bridge club, the Conference League and the Club World Cup in 2025. He has made 138 appearances in which he has scored 58 times and provided 34 assists.

He was named PFA Young Player of the Year and Premier League Young Player of the Season in his debut campaign at Chelsea, but he has struggled to hit the same heights in recent years due to injury problems and a lack of compatibility with the style of former manager Enzo Maresca.

Despite his struggles last season, only scoring five non-penalty goals in the league, Palmer was still putting up impressive underlying numbers, with data analytics firm SciSports ranking him among the top-performing attacking midfielders for 2025/26.

Things are looking up for Palmer again under Alonso, and he seems to be in it for the long haul.