While Palmer has been impressed by the teenager’s start to life in the Championship, he thinks the reported £40 million fee is “a little excessive,” despite his expectation that the Whites will be reluctant to sell Gray.
Speaking to Football League World (12 November) he said: “Leeds would be reluctant to sell a player who joined their academy at the age of nine, and is the nephew of club icon Eddie Gray.
“But Leeds may have no choice, with the likes of Crystal Palace and Everton among many Premier League clubs showing an interest. The figure that is being banded about is £40 million. I think this is a little excessive for a young player who has very little experience, certainly not at the highest level.
“Having said that, Leeds will not let him go cheaply, and a player is only worth what a club is willing to pay.
A few years ago, it would have been impossible to imagine a Premier League side spending such a huge transfer fee on a player with no top-flight experience, but over the last few seasons the market has changed immensely and so have the transfer fees.
Teams like Liverpool will be willing to pay over the odds for a player like Gray on the off chance that they pick up the next Jude Bellingham and young midfielders have cost a premium from England’s second tier. Alongside Bellingham, Alex Scott joined Bournemouth for more than £20 million this summer.
On top of that, Palmer is right to explain that Leeds United are unlikely to want to allow the 17-year-old to depart Elland Road at the end of the season and with his contract running until 2025, they can drive up his valuation to avoid losing him.
Whether or not the reported interest from the Premier League’s biggest clubs turns into a genuine bid or not remains to be seen, but should Gray continue to impress there will only be more and more speculation surrounding his future.
