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Ipswich Town have now made their first offer for Exequiel Palacios, taking their interest in the Bayer Leverkusen midfielder to the next stage. That comes after reports earlier this month explained the Premier League side had contacted the Argentine’s representatives. At that point, there had been no formal approach to his club. Argentina’s La Nación now says that has changed. Ipswich have presented an opening bid, although Bayer Leverkusen considered it insufficient. Leverkusen want around €35m La Nación reports Bayer Leverkusen want around €35m (£30.3m) to part ways with Exequiel Palacios this summer. The Argentine newspaper doesn’t reveal how much Ipswich Town offered, only that the Bundesliga club weren’t satisfied with the proposal. That gives Ipswich a clear indication of what it could take to progress negotiations. Also, at least their interest has moved beyond the exploratory contacts reported earlier in August. Palacios has been with the German club since January 2020 and has enjoyed considerable success there. He was part of the side which won the Bundesliga and DFB-Pokal under Xabi Alonso in 2024. His most recent season was considerably more difficult. A serious right adductor injury kept Palacios out for much of the first half of the campaign. He eventually made 25 appearances for Leverkusen, registering one assist. Player preference could be another Ipswich obstacle The price isn’t the only potential difficulty for Ipswich Town. La Nación says Exequiel Palacios would prefer a transfer to a “bigger club” if he leaves Bayer Leverkusen. That doesn’t necessarily close the door on Ipswich, but it’s clearly something they would have to overcome alongside Leverkusen’s €35m (£30.3m) asking price. RB Leipzig have also been credited with interest in the 27-year-old. Reports from Argentina previously stated that Martín Demichelis had personally requested his signing. Ipswich have at least made the first concrete move. Leverkusen’s response and Palacios’ reported preference now make clear they will need to do more to get this one moving.