Ipswich Town have reached a full agreement with Bayer Leverkusen for the transfer of midfielder Exequiel Palacios, securing a landmark signing for the Premier League newcomers. The financial package agreed between the two clubs consists of a €22.5 million fixed fee alongside €5 million in performance-related add-ons, in addition to a 10 percent sell-on clause negotiated by the German outfit. Palacios has accepted all conditions of the transfer and will sign a contract valid through June 2030. The 27-year-old Argentina international is scheduled to travel tonight before undergoing his official medical examinations tomorrow ahead of completing his move to Portman Road.
The successful agreement represents the culmination of sustained negotiations following an initial setback in Ipswich’s pursuit of the central midfielder. The English club had previously submitted an initial proposal of €15 million on August 18, which was rejected by Bayer Leverkusen. Refusing to walk away, the Tractor Boys returned with an improved offer totaling up to €27.5 million to satisfy the German side’s valuation. With the fundamental terms now sealed, Ipswich are moving rapidly in the coming hours to finalize the remaining administrative details and reinforce their squad for the top-flight campaign.
Palacios brings proven international pedigree to Ipswich, having accumulated 41 caps for Argentina throughout his career. The midfielder was a member of the squad that claimed glory at the 2022 World Cup in Qatar, establishing his reputation on football’s biggest stage. He was subsequently included in Argentina’s squad for the 2026 tournament, where he featured in their final group stage match against Jordan. Upon formal completion of the transfer, Palacios will create club history by becoming the first-ever World Cup winner to represent Ipswich Town.
During his final campaign with Bayer Leverkusen, Palacios featured 25 times across all competitions, providing a vital central presence despite enduring physical setbacks. His season was interrupted by a right adductor injury that sidelined him for four months, yet he returned to play a key role on either side of that extended lay-off. Fully recovered and ready for his new venture, the midfielder leaves Leverkusen to take on a prominent role in English football, bringing top-level international experience directly to the Ipswich engine room.
