This price is considered very expensive.
According to Transfermarkt, Palmer's price is only £15.5 M. Chelsea is inflating the entire market.
My concern is that Chelsea is willing to spend £45m on him, What has he done?
For £45M that's a crazy price. But again, the market is now crazy.
Cole Palmer is a good attacking midfielder at Manchester City and I think he is really worth being priced at. I think if there was a crazy transfer value about Chelsea, then I would say it was when they brought in Moises Caicedo for 116 million euros and Roméo Lavia for more than 60 million euros. Both are defensive midfielders who shouldn't be worth that much, but Chelsea made the deal.
I wouldn't say Cole Palmer's transfer to Chelsea which touched the 45 million euro mark was an expensive transfer, but it was worth it for the quality he has as he proved with Manchester City.