Ipswich Town are on the verge of completing a major midfield signing after reaching an agreement with Bayer Leverkusen for Argentina international Exequiel Palacios.
The Premier League club have agreed a deal worth €22.5 million initially, with a further €5 million available in add ons. The agreement could therefore reach €27.5 million, while reports also indicate that River Plate will benefit from the transfer through clauses connected to Palacios’ original move to Europe.
Palacios is expected to travel to England before undergoing his medical, with the final formalities to be completed before he signs his contract with Ipswich. The midfielder has reportedly agreed terms on a long term contract that will run until June 2030, giving Ipswich a significant addition as they prepare for life in the Premier League.
The move represents an important moment in Palacios’ career. The 27 year old has spent the past six and a half years in German football after leaving Argentine giants River Plate for Bayer Leverkusen in January 2020. He arrived in Europe with a growing reputation following an outstanding spell in South America and has since developed into an experienced international midfielder.
Born on October 5, 1998, in Famaillá, Argentina, Palacios developed through River Plate’s youth system before breaking into the first team. His technical ability, energy and tactical intelligence quickly attracted attention, and he became an important part of a River side that enjoyed considerable success under Marcelo Gallardo.
One of the biggest achievements of his early career came in 2018 when River Plate defeated Boca Juniors in the historic Copa Libertadores final. Palacios was part of the squad during that memorable campaign, giving him early experience of high pressure matches and elite continental football.
His performances eventually attracted Bayer Leverkusen, who secured his transfer to Germany. The move was completed in January 2020 and marked the beginning of a new chapter for the Argentine.
At Leverkusen, Palacios gradually established himself as a versatile central midfielder. His game combines aggressive pressing and ball recovery with the ability to progress possession and contribute creatively. Bayer’s official profile describes him as a player who combines aggressive work without the ball with creative qualities.
His time in Germany also brought some of the biggest successes of his career. Palacios was part of the historic Bayer Leverkusen side that won the Bundesliga and DFB Pokal double during the 2023/24 campaign. He also helped the club compete at the highest level in European competition and became a respected figure within the squad.
Across his Leverkusen career, Palacios made 186 appearances in German football, according to German Football Association data, underlining the level of experience he brings to Ipswich. His record includes appearances in the Bundesliga, Champions League and Europa League.
Internationally, Palacios has represented Argentina and was part of the country’s successful generation that competed at major international tournaments. His experience with the national team adds another valuable dimension to his profile as he prepares for his first Premier League adventure.
Ipswich’s decision to invest in Palacios is also a reflection of their desire to add proven quality rather than relying solely on young prospects. His experience of winning major trophies with Leverkusen could prove particularly useful to a club attempting to establish itself in the demanding environment of English football.
The transfer has been developing for several weeks. Ipswich initially faced resistance from Leverkusen after earlier offers were rejected, with reports suggesting the German club had wanted a significantly higher fee for the midfielder. The negotiations eventually progressed after Ipswich improved their proposal, leading to the latest agreement.
For Leverkusen, the sale represents the end of a long association with a player who played an important role during one of the most successful periods in the club’s history. For Ipswich, it could become one of their most significant signings of the current transfer window.
Palacios’ arrival would give Ipswich greater experience and physicality in midfield while also adding a player accustomed to competing for major honours. His ability to operate in different midfield roles should provide the club with additional tactical options.
The deal is not officially complete until Palacios passes his medical and signs the required documents, but the agreement between the clubs represents a major step towards his move to England.
If everything proceeds as expected, the Argentine midfielder will soon begin a new Premier League chapter at Portman Road, bringing with him a fascinating football journey that began in Argentina, reached the summit of South American club football, continued through Germany and now leads to England.
