Chelsea wanting to tie Mason Mount and Reece James down to new contracts is "brilliant news", says former Premier League midfielder Carlton Palmer.

Both players are thought to be attracting interest from other clubs right now, but it seems incoming owner Todd Boehly will make handing the English pair fresh deals a priority.

What is the latest news involving Mount and James?

According to CBS SPORTS' Ben Jacobs, the Boehly-led consortium, who are about to take over Chelsea, want to offer new contracts to both Mount and James.

This comes after The Athletic reported that three of the biggest clubs in England, plus other outfits from abroad, are targeting Mount.

Elsewhere, GOAL has claimed that Real Madrid have already made an approach for James with the view of signing him in the 2023 summer transfer window.

The Chelsea duo, who are valued at £117m combined by Transfermarkt, will be out of contract around the same time, with Mount's expiring in 2024 and James' in 2025.

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What has Palmer said about Mount and James?

Fortunately for the Stamford Bridge faithful, it looks like handing the two Chelsea academy graduates new deals is on the top of Boehly's agenda, and Palmer thinks that is brilliant news.

Speaking to GIVEMESPORT, the ex-Leeds United and Southampton star said: "It's brilliant news. How are you going to build a football club if you lose your best players? Chelsea have had this habit recently of letting players get down to the wire with their contracts, and you run the risk then. You run the risk."

Should Chelsea hand Mount and James new contracts?

They would be foolish not to with their Premier League rivals and Real Madrid sniffing around, which does not come as a surprise.

Mount and James are two extremely talented players; it was only last month when Thomas Tuchel suggested that the attacking midfielder and right-back were always destined to make it to the top.

"I don’t think Frank [Lampard] did it [played them] to do them a favour," Tuchel was quoted as saying by the Evening Standard when discussing Mount and James' rise in the Chelsea team.

"I think every coach does it because it is all about helping the team. It is not about age. When you are ready, you are ready. I strongly believe you find your way if you have what it takes."

Ultimately, now Mount and James are at the top, they are two players Chelsea cannot afford to lose, something Tuchel will surely make clear to Boehly and co.