Town’s second offer for Bayer Leverkusen midfielder Exequiel Palacios has been turned down, according to German reports.
Just over a week ago, the Blues made an offer of €15 million (£12.8 million) for the Argentina international, which was swiftly rebuffed by the Bundesliga side, who set their price at €35 million (£29.9 million).
Town stepped away from the discussions but over the weekend German reports claimed Palacios had indicated to Leverkusen that he wanted to move on, was prepared to lower his personal financial demands and would be interested in the Blues, despite earlier signals that the 27-year-old would only consider a bigger club if he were to make a switch to England.
Earlier today, Fabrizio Romano reported that Town had made a new offer and were hopeful that a deal could be done.
However, highly regarded German football magazine Kicker is now reporting that that bid has also been rejected having been only slightly higher than the initial offer.
German Sky reporter Florian Plettenberg says the new bid was just over €20 million and quotes an internal source at the Bundesliga club: "We are miles apart.”
Argentinian news organisation Medio River say they expect the Blues to come back with another offer in the hours to come and a deal subsequently concluded.
If the move were to be agreed, Palacios would be the most eye-catching addition of an already very busy summer at Portman Road, with the outlay having already hit the £150 million mark, and probably the highest profile signing in the club’s history.
The midfielder, who began his career with River Plate in his home country, won the World Cup in 2022 and was in the side which lost this year’s final last month. In total, he has won 41 full caps.
He is contracted to Leverkusen, with whom he won the Bundesliga in 2023/24, until the summer of 2030.