Sky Germany reports that Bayer Leverkusen have rejected an offer of about €20m from Ipswich Town for Exequiel Palacios, with the Bundesliga club believing the proposed fee was “too low”.
Negotiations between the two clubs have been suspended following Leverkusen’s decision, according to the German broadcaster. The report says Ipswich’s offer was assessed internally by Leverkusen before the club decided not to accept it.
Palacios is understood to want a move to the Premier League and has told Bayer Leverkusen of his desire to leave. However, the midfielder remains under contract with the German club until 2030, giving Leverkusen a strong contractual position in discussions over his future.
The latest development leaves Ipswich Town facing a significant obstacle in their attempt to sign the Argentina international. Their bid, believed to be worth approximately €20m, has not met Leverkusen’s valuation, and talks are currently on hold.
Palacios has informed Bayer Leverkusen that he would like to join the Premier League, but no agreement has been reached between the clubs. Sky Germany’s report does not indicate that a revised offer has been made or that negotiations are set to resume.
For now, the central issue remains the difference between Ipswich’s proposal and the amount Bayer Leverkusen believe would be acceptable for a player whose contract extends through to 2030. Although Palacios has made his preference clear, the existing length of his deal means Leverkusen are not under immediate pressure to sell.
The report places the negotiations at an early standstill, with Ipswich’s initial approach rejected and the clubs no longer actively discussing the transfer. Any further progress would depend on whether the Premier League club returns with an improved offer.
Palacios’ wish to move to England is therefore clear, but the proposed €20m fee has not been enough to persuade Bayer Leverkusen to sanction his departure. Until the clubs find common ground, the midfielder remains tied to Leverkusen by his long-term contract.
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