July 1st, Newly promoted Premier League side Ipswich Town have officially announced the permanent signing of 20-year-old Chelsea forward, Hutchinson. The deal will see the player remain at Portman Road until 2029.
The transfer fee is reported to be £22 million. There is no buy-back clause, but a 25% sell-on clause is expected to be included in the deal.
Last season, the 20-year-old Chelsea forward joined Ipswich on loan while they were in the Championship. He made 50 appearances across all competitions, scoring 11 goals and providing 5 assists, playing a key role in Ipswich’s successful promotion to the Premier League.
The deal is believed to be a club-record transfer fee for Ipswich. Their previous highest transfer fee was £4.75 million paid to Sampdoria for Matteo Sereni in 2001.
It is reported that Hutchinson’s former club, Arsenal, will also receive a significant amount from the transfer. This is due to a sell-on clause included in the deal when he joined Chelsea two years ago.
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