In the latest transfer updates, Chelsea is reportedly preparing to present Cole Palmer with a substantial increase in salary, while Manchester United is actively competing to secure the signing of Olmo.

Chelsea is reportedly gearing up to offer Cole Palmer a substantial salary increase, despite the young forward still having six years remaining on his contract, as per the Daily Mirror. Palmer’s remarkable performance since joining from Manchester City last summer, including scoring four goals against Everton recently, has elevated his season tally to 25 goals. His impressive form positions him as a strong candidate for inclusion in Gareth Southgate’s squad for Euro 2024, with potential for a starting role in the tournament. However, Palmer, currently earning around £80,000 per week, is notably behind many of his teammates in terms of salary, with Raheem Sterling, for instance, believed to be earning £325,000 per week.

In other transfer news, Manchester United is reportedly among the clubs vying for the signature of RB Leipzig attacker Dani Olmo, according to Mundo Deportivo. With plans for multiple signings this summer, United sees a versatile forward as a key priority under manager Erik ten Hag. Olmo, who has been linked with United for some time, could spark a bidding war among clubs, with Barcelona and Bayern Munich also expressing interest in the 25-year-old.

Meanwhile, former Wolves and Real Madrid manager Julen Lopetegui is reportedly eyeing a move to AC Milan as the Serie A side seeks to replace Stefano Pioli, as per Rudy Galetti. Despite rejecting an offer from Saudi Pro League club Al-Ittihad earlier in the season, Lopetegui aims for a move to Italy in the upcoming summer transfer window.

In another development, Newcastle United appears to be leading the race to sign Juventus star Federico Chiesa, dealing a setback to Barcelona’s pursuit of the Euro 2020 standout. Corriere dello Sport, via Sport Witness, suggests that Newcastle is currently in pole position to secure Chiesa’s services, potentially thwarting Barcelona’s efforts to acquire him.