Chelsea learn Manchester City’s valuation of Cole Palmer after initial £35m bid is rejected - Reports

Manchester City are reportedly demanding £50 million for Cole Palmer after rejecting a £35 million bid from Chelsea for the attacking midfielder.

According to The Standard's Nizaar Kinsella, Palmer has become Mauricio Pochettino's top target as he looks to strengthen his attack. Chelsea have been encouraged by City not rejecting their interest in the 21-year-old but only their £35 million offer.

Pep Guardiola's treble winners value Palmer at £50 million but a compromise could be met at £45 million. Manchester City will have a strong hand in negotiations due to the winger having three years left on his contract.

Palmer has just broken into Guardiola's side following an impressive run in the U21s team. He bagged 22 goals and 11 assists in 29 matches across competitions for City's youth team.

The young attacker then made the step up to the senior team last season and started seven of 25 games last season. He scored one goal and provided an assist before excelling at the U21 European Championships earlier this summer.

Palmer was part of an England U21 side that won the competition and he managed two goals and one assist in four games. It appeared he would be handed a more prominent role in City's side but Guardiola continues to view him as a bit-part player.

The Spanish tactician even admitted that Palmer would either stay at the Etihad or leave permanently just after he scored in a UEFA Super Cup win. He said:

“The opinion I had is he wanted to leave, but now I don’t know what’s going to happen. I don’t think a loan is going to happen."

Chelsea now look set to pursue his signature with just over a day left until the transfer window closes. Pochettino wants to add more creativity to his attack after seeing new signing Christopher Nkunku sidelined for a long period.

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Roy Keane raised concerns about Chelsea target Cole Palmer's future under Pep Guardiola at Manchester City

Cole Palmer is likely to gain more minutes at Chelsea.

Palmer has also made an impact for Manchester City's senior team this season, netting in both the UEFA Super Cup and the FA Community Shield. His strike in the latter competition would be in vain as Arsenal beat City on penalties eventually.

Roy Keane was impressed with Palmer's performance on the day but raised concerns regarding being a youth player under Guardiola. The Manchester United legend told ITV Sport:

“It’s going to be very difficult for any young player at Man City. When Pep gets that trust in him, you turn up in games like this and put the ball in the back of the net then you’re going to win that trust. It’s going to be very, very difficult. Clearly a talented boy."

Palmer's situation holds similarities to that of Phil Foden when he first came onto the scene. Guardiola was cautious with the amount of game time he handed the English attacker in his youth days.

However, Foden has gone on to become a sensation with Manchester City, netting 60 goals and 43 assists in 222 games across competitions. He has won five Premier League titles aged 23.

It remains to be seen if Palmer will be willing to bide his time like Foden for first-team opportunities at Manchester City. He may now decide that heading to Chelsea will give him a short cut to more game time.