Chelsea are reportedly preparing to offer Cole Palmer a new contract at Stamford Bridge which could see his weekly salary rise from £75,000 to £150,000 due to his standout form this term.

The 21-year-old surprisingly left Manchester City on a permanent basis last summer, with Chelsea bringing him to London on a seven-year contract, with the option of a further 12 months.

Palmer has been in strong form for the Blues this season, scoring 13 goals and registering 11 assists in 33 appearances in all competitions.

According to the Daily Star, Chelsea are keen to reward him for his impressive performances since arriving at Stamford Bridge, and his weekly salary could now rise from £75,000 to £150,000.

The report claims that the deal could potentially be signed before Palmer potentially heads off to Germany with the England squad for this summer's European Championship.

Palmer featured twice for Man City in the early stages of this season before rumours of a possible loan move to West Ham United gathered pace.

However, he left the Citizens permanently, having made 41 appearances for the club, scoring six goals and registering two assists in the process.

Palmer has scored 11 times and registered eight assists in the Premier League this season, and he has been included in the England squad for the national side's March friendlies.

Chelsea boss Mauricio Pochettino lavished praise on the attacker while addressing the media ahead of Sunday's FA Cup quarter-final with Leicester City.

"The way he adapted really quick to a new club like Chelsea, adapted to the coaching staff and, of course, to deal with the pressure to play for a big club like Chelsea, I think that makes him special," Pochettino told reporters.

"The most important thing is how he deals with the pressure because we have some amazing players but sometimes they struggle and they need time to deal with it.

"It's amazing the way he adapted, feels like he's 20 years here at this club, plays easy - and didn't feel the pressure to perform the way we expect as the quality is there."

Palmer won four trophies during his time at Man City, enjoying success in the Premier League, FA Cup, Champions League and UEFA Super Cup last season.

Chelsea have struggled in the Premier League this season, sitting down in 11th position in the table, but they can secure claim silverware in the FA Cup this term.