Leverkusen Reject €20m Ipswich Bid For Palacios As Premier League Move Stalls

Bayer Leverkusen have rejected an offer of around €20 million from Ipswich Town for Exequiel Palacios, with the Bundesliga club making it clear that the proposal falls well short of their valuation of the Argentine midfielder.

According to Florian Plettenberg and Sky Sport Germany, Leverkusen's internal assessment of the offer was clear: "Far too low." Negotiations are currently on hold, although the situation could change if Ipswich returns with a significantly improved proposal.

Palacios would like to move to the Premier League and has already informed Leverkusen of his desire to leave. The 27-year-old, however, remains under contract with Bayer until 2030, putting the German club in a strong negotiating position and allowing them to remain patient over his future.

For Die Werkself, there is little reason to accept a relatively modest fee for an experienced and international midfielder who remains under a long-term contract. Palacios has been an important figure at the club since joining from River Plate in 2019, developing into one of the key midfielders during Bayer's rise under Xabi Alonso.

He was extremely important during the 2023/24 campaign with Xabi Alonso, when Leverkusen won the Bundesliga title without losing a league game and added the DFB-Pokal. His experience, technical quality and ability to contribute both in possession and defensively remain valuable assets.

The situation is nevertheless more complicated. Leverkusen are reshaping their squad under new head coach Carles Martínez Novell, with several players potentially available. Palacios is among them, but his case is different: the Argentine has made his desire to leave clear, with his agent already submitting a formal transfer request as he looks for a move to a European heavyweight, preferably in the Premier League.

His decision could also have a financial element. According to BILD, Palacios' salary has been reduced by 25 per cent this season after Leverkusen missed out on Champions League football, dropping his reported annual earnings from around €7 million to €5.25 million. With the midfielder under contract until 2030, however, Leverkusen remain in a strong position and would reportedly demand more than €40 million to consider a sale.

A move to the Premier League would offer Palacios a new challenge, while his Bundesliga and European experience could make him an attractive addition for an English club looking to strengthen its midfield with a proven player.

According to Plettenberg, the issue is simply the price.

A €20m offer has not come close to convincing Leverkusen, and the negotiations are now effectively frozen. If Ipswich want to make the transfer happen, they will need to return with a substantially improved proposal that better reflects Bayer's valuation.

Palacios' desire to leave will ultimately play a role, particularly if further Premier League interest emerges. But Leverkusen remain under no pressure to sell and have the security of his contract until 2030.

For now, the message from Leverkusen is straightforward: €20 million is far too low. Ipswich will have to decide whether they are prepared to significantly increase their offer to turn Palacios' Premier League ambition into reality.