Ipswich Town are close to reaching an agreement with Bayer Leverkusen for the transfer of Exequiel Palacios. The English club has submitted an improved offer of €22.5 million plus €5 million in add-ons for the 27-year-old Argentine midfielder.
The defensive midfielder would sign a four-year contract with Ipswich if the deal is completed. This would make him the first-ever World Cup winner to represent the club. Leverkusen had previously rejected an initial €15 million bid. Die Werkself finished the last season in fifth place in the Bundesliga with 52 points from 29 games and a goal difference of +20 (59 scored, 39 conceded).
A transfer of Exequiel Palacios would provide Bayer Leverkusen with significant financial flexibility. The club from North Rhine-Westphalia recorded 15 wins, seven draws, and seven losses last season, finishing 24 points behind champions Bayern Munich. The team under coach Xabi Alonso is currently preparing for its next fixture away at SV Elversberg on August 29.
Palacios joined Bayer Leverkusen from River Plate in 2020. During six years at the BayArena, he made 185 competitive appearances, scoring 15 goals and providing 17 assists. A highlight was winning the German Bundesliga title in the 2023/24 season. The past campaign, however, was marred by injury problems for him. A right adductor injury sidelined him for four months, limiting him to just 25 appearances across all competitions.
Exequiel Palacios is an established Argentina international. He has been capped 41 times for the Albiceleste and was part of the squad that won the 2022 World Cup in Qatar. He was also included in the squad for the 2026 World Cup but featured only once, in the final group game against Jordan. His status as a world champion makes him a notable transfer target for Ipswich Town, which has already signed midfielders Sasa Lukic from Fulham and Florentino Luis from Burnley this summer.
The potential departure of Palacios follows some changes in the Leverkusen squad. After their loan spells ended, Jens Cajuste and Dan Neil have already left the club. However, Die Werkself possesses a deeply stocked central midfield, which impressed with a solid defensive record of 39 goals conceded last season. The current squad list is available on our squad page.
A sale would free up funds for potential new signings while the club can still rely on established players in that position. The sporting management around Simon Rolfes must now decide if the offer from England adequately reflects the player's value. The team's last five league games of the previous season ended with two wins and three draws (WWDDD), indicating a stable foundation.
Negotiations between Ipswich Town and Bayer Leverkusen are at a key stage. If the transfer goes through, Leverkusen would lose an experienced player who won major titles with the club. The financial proceeds could be used for further squad planning as the team focuses on the away fixture at Elversberg. The current league standing can be tracked on the standings page.
