Chelsea seal Cole Palmer transfer from Manchester City for £42.5m - as treble winners cash in on yet another academy product

• Chelsea announce Palmer deal
• Winger leaves City for £42.5m
• City bank £85m in academy player sales

WHAT HAPPENED? The England under-21 winger has signed a seven-year contract with Chelsea after sealing a permanent move from City. Palmer made three appearances for City this season, including scoring in the Community Shield and UEFA Super Cup, but his days at the club were numbered when the champions signed Jeremy Doku from Rennes.

THE BIGGER PICTURE: Palmer's transfer for £42.5m ($53.8m) means City have made more than £85m ($107m) in academy player sales this summer. Palmer's exit follows the sale of goalkeeper James Trafford to Burnley, Shea Charles moving to Southampton and Carlos Borges heading to Ajax.

WHAT THEY SAID?: “I have had a fantastic time at Manchester City and I would like to thank everyone who’s been there for me and supported me during my time at the Club – players, coaches, staff,” Palmer told City's website. “It doesn’t feel that long ago that I was Under-18 captain and I leave now having been involved in the Treble-winning squad and the UEFA Super Cup triumph too, incredible achievements I was so grateful to be a part of."

IN THREE PHOTOS:

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Getty

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WHAT NEXT FOR COLE PALMER? Chelsea's new signing could make his debut in Saturday's match at home to Nottingham Forest.