Town have confirmed the signing of Argentina World Cup winner Exequiel Palacios from Bayer Leverkusen.

On Tuesday, after protracted negotiations and four bids over the course of the last few weeks, the Blues and the Bundesliga side agreed an initial fee of €22.5 million (£19.2 million) plus a further €5 million (£4.3 million) in add-ons. Leverkusen are understood to have a 10 per cent sell-on, while the player has signed a deal which runs to the summer of 2030.

The 27-year-old flew to Stansted from Cologne last night and underwent his medical and completed the formalities relating to his switch today. Town are awaiting clearance from UK Visas and Immigration.

“I am delighted to have signed for Ipswich Town,” the Blues’ 11th senior signing of the summer said. “This is a club with great ambition and I am excited to play football in England and compete against some of the best clubs and players in the world.

“I have enjoyed speaking with everyone at the club and I am now looking forward to meeting everyone and getting started on the pitch with my teammates, as well as meeting the fans as soon as possible.”

Manager Gary O’Neil added: “We are really pleased to have added a player of Exequiel’s quality to the group.

“He is a player who has had real success at the top level of the game, winning the biggest prize of all in the World Cup, as well major trophies at club level. That experience will be
vital for us as we continue to work to improve the squad this summer.

“We’re looking forward to him getting started and can’t wait to see him on the pitch.”

Palacios is the most eye-catching addition of an already very busy summer at Portman Road, with the outlay now at around the £170 million mark.

The midfielder, who it’s understood Leverkusen were reluctant to allow to move on, is probably the highest profile signing in the club’s history, and the first with a World Cup winner’s medal.

Palacios, who began his career with River Plate in his home country, was part of the Argentina squad which won the World Cup in 2022, featuring as a sub in three games, although not the final.

And Famaillá-born Palacios was also a member of the squad which was beaten by Spain in the final last month, although made only one appearance at the tournament, starting the group game against Jordan. In total, he has won 41 full caps.

During his six years with Leverkusen he won the Bundesliga title and Pokal (German Cup) double in 2023/24. In addition, they were runners-up in the Europa League the same season and lifted the DFL-Supercup - the German equivalent of the Community Shield - ahead of the following campaign.

With River Plate, he won the Copa Argentina in 2016/17 and 2018/19, the Copa Libertadores in 2018 and the Recopa Sudamericana in 2019.

In addition to his World Cup winner’s and runners-up medals, Palacios was in the Argentina squads which carried off the Copa America in 2021 and 2024, and the CONMEBOL–UEFA Cup of Champions in 2022.

Palacios is the fourth Argentinian to play for the Blues following Mauricio Taricco, loanee Sixto Peralta and Luciano Civelli, but the first international.

Photo: ITFC/Matchday Images