The Blues have ensured they do not lose the 20-year-old for a modest fee in the coming months.
The youngster managed to score 10 goals for Ipswich Town in the Championship last season.
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Now the Blues have extended his deal to keep him at the club until 2026, per the Evening Standard.
There is a chance he may go back out on loan for another year, with Ipswich interested again.
However, new boss Enzo Maresca will be running the rule over the squad before any decisions are made.