One Premier League club is reportedly ready to smash the British transfer record to tempt Cole Palmer away from Chelsea.

After coming through the ranks at Manchester City, Palmer, 23, left the Etihad Stadium for Chelsea in the summer of 2023.

The Englishman signed for the Stamford Bridge club in a deal worth a reported fee of £42.5 million and has since played a key role within the team.

So far, Palmer has managed 43 goals in 97 matches and helped Chelsea win the UEFA Conference League and the FIFA Club World Cup during the 24/25 season.

Recently, it was claimed that French Ligue 1 giants and Champions League winners Paris Saint Germain were interested in signing Palmer in what would be a world record transfer.

Cole Palmer has played a key role since joining Chelsea. Image: Getty

Now, it has been suggested that a Premier League club could also make a big-money move for the 23-year-old.

According to Spanish news outlet Fichajes, Palmer’s former club, City, are willing to offer £147 million to re-sign the England international.

It has been said that City boss Pep Guardiola has always ‘admired’ Palmer’s talent and is interested in bringing him back to the club ‘at all costs’.

So far this summer, City have brought in the likes of Tijjani Reijnders, Rayan Ait-Nouri, Rayan Cherki, Sverre Nypan and Marcus Bettinelli.

Guardiola is hoping to build a squad capable to reclaiming their Premier League title after their dominance was stopped by Arne Slot’s Liverpool last season.

In addition to the new signings, influential midfielder and Ballon d’Or holder Rodri is edging ever closer to full fitness, which will be a big plus for City.

Cole Palmer came through the ranks at Manchester City. Image: Getty

What has Pep Guardiola said about Cole Palmer?

Back in March, Guardiola was full of praise for his former player, he said: “We knew the quality he has and the impact he has shown this season is enormous.

“It is not just goals and assists, it is the quality. He is an incredible threat for Chelsea. In the future you will not forget. It looks easy, but it’s not.”

After their FIFA Club World Cup campaign was ended by Saudi Arabian side Al Hilal, Guardiola and his men will return to action next month when they take on Palermo at the Renzo Barbera Stadium.

City will then begin their 25/26 Premier League campaign against Wolverhampton Wanderers on August 16.