Chelsea have been keeping an eye on Palmeiras midfielder Luis Pacheco ahead of a possible move, but the Brazilian club have now made sure they’re well protected if anyone comes knocking.

The 18-year-old has signed a new contract running until December 2031, with his release clause increased to €130m (£112.5m). That’s quite a statement of confidence in a player who is still trying to establish himself in the first team.

Palmeiras hand Chelsea target huge new deal

According to RTI Esporte, Palmeiras agreed the extension on October 27, adding more than three years to Pacheco’s previous contract, which ran until September 2028.

His release clause has also gone up from €100m (£86.5m) to €130m (£112.5m).

That doesn’t necessarily mean Palmeiras expect anyone to pay such an enormous amount. It does, however, leave them in a very comfortable position should European clubs come forward. And Chelsea are already among those interested.

As Sport Witness exclusively revealed earlier this year, Palmeiras have been presenting Pacheco to several clubs, with the Blues among those to show interest.

Chelsea wanted more time to watch him before making a decision, with January considered a more realistic possibility for a transfer.

The new contract doesn’t necessarily change that plan, although Palmeiras certainly won’t be under any pressure to sell.

Pacheco still fighting for minutes

The midfielder has also spoken about his new deal, making it clear how much the club’s confidence means to him.

“It’s a feeling of achievement, of gratitude. I thank Palmeiras, all the professionals, everyone involved with the academy and the first team too,” he said.

“I thank everyone who helped me get here, because it hasn’t been an easy journey.”

For all the excitement around Pacheco, he’s still waiting for a proper run in Abel Ferreira’s side.

The youngster has made 13 senior appearances, and getting more minutes is very much his priority.

“I just have to keep working with a lot of confidence. Abel’s praise is reflected in the day-to-day work,” he explained.

“I’m there training, looking to earn my place and get minutes. I just have to keep working and stay focused on what’s ahead.”

Pacheco also spoke movingly about losing his mother and how Palmeiras supported him through that difficult period.

“The club supported me at the worst moment of my life. This club is wonderful, I can only be grateful. They gave me time, offered support, everything I needed.”

That helps explain his attachment to Palmeiras, who have now made another significant commitment to his future.

For Chelsea, the next few months should offer a better idea of how quickly Pacheco is progressing. He’s a promising defensive midfielder, comfortable on the ball and physically strong, but still has relatively little experience against senior opposition.

Palmeiras have now secured his future until 2031. Whether Chelsea eventually decide to test their willingness to sell is another matter.