Exequiel Palacios's arrival from Bayer Leverkusen closes out a pursuit that stretched across several rejected bids and rising offers before Ipswich finally got a deal over the line on undisclosed terms, with reporting during the negotiation putting the package as high as €27.5m.
The 27-year-old spent almost six years in Germany, making 185 appearances for Bayer Leverkusen after arriving from River Plate in 2020 and helping the club to a Bundesliga and DFB-Pokal double in 2023-24 under Xabi Alonso. He arrives in Suffolk with 41 caps for Argentina and medals from both the 2022 World Cup win and this summer's run to the final, making him the most decorated player in the club's history and the first World Cup winner to sign for Ipswich.
"I am delighted to have signed for Ipswich Town. This is a club with great ambition and I am excited to play football in England and compete against some of the best clubs and players in the world," Palacios said.
"I have enjoyed speaking with everyone at the club and I am now looking forward to meeting everyone and getting started on the pitch with my teammates, as well as meeting the fans as soon as possible."
O'Neil framed the signing as central to the club's summer strategy of adding proven quality alongside its promotion-winning core.
"We are really pleased to have added a player of Exequiel's quality to the group. He is a player who has had real success at the top level of the game, winning the biggest prize of all in the World Cup, as well as major trophies at club level. That experience will be vital for us as we continue to work to improve the squad this summer," the manager said.
At the other end of the squad, Ipswich Town have tied down one of their own academy graduates. Tudor Mendel has signed a new two-year deal through to the summer of 2028, with the club holding an option for a further season, only days after making his senior debut in the Carabao Cup win over Leicester City.
The 21-year-old winger earned the move up after a standout campaign with the club's under-21s, contributing 18 goal involvements in 20 Premier League 2 matches to be named Academy Player of the Year, and further impressed during pre-season, starting matches against Wycombe Wanderers and Le Havre and travelling with the first team to their training camp in Germany.
"I am very happy to sign because I feel at home and settled at Ipswich. This means that I can keep on progressing within the support structure that we all get here as young players," Mendel said. "It was a very proud moment to have made my competitive senior debut. I'm now focused on improving and repaying the faith that has been shown in me."
Academy manager Ben Chenery praised the winger's development.
"Tudor is an exciting talent, who is constantly striving to be the best version he can be, both on and off the pitch. It was a proud moment for our academy for him to have made his competitive senior debut and become a benchmark for other players within the system," Chenery said.