According to reports, Chelsea wasted no time in rejecting Man City's offer and have no intention of letting Palmer go any time soon. The club believes Palmer is an essential part of their team and is not willing to sell him at a lower price.
The report adds that Chelsea sent back a counter-offer of £250 Million, which would make Palmer the most expensive player in the sport's history.
Cole Palmer has grown into one of the best players in the Premier League during his short time at Stamford Bridge. He has played a key role in Chelsea's recent successes, including winning the Europa Conference League and FIFA Club World Cup.