Patrick Bamford has signed a new three-year contract with Chelsea and immediately joined fellow Premier League side Crystal Palace on a season-long loan.

The 21-year-old moved to Stamford Bridge from Nottingham Forest in January 2012 and has enjoyed loans with MK Dons and Derby County.

However, he rose to prominence during his loan spell at Championship club Middlesbrough last season, where he scored 17 league goals and won the division's player of the year award.

Bamford was linked with a return to the Riverside Stadium, but is keen to test himself in the top flight and will link up with Alan Pardew's side for the 2015-16 campaign after committing his long-term future to the Premier League champions.

"I'm delighted to sign a new contract with Chelsea. My dream has always been to be part of this club for the long term," he told Chelsea's official website.

"Chelsea have been fantastic with my development and joining Crystal Palace for this season on loan is the next step for me in my career."

He added on Palace's official website: "I was quite keen to stay close to London this time and Palace were actually my first choice, but I didn't realise they were keen to start with.

"Then, when I met with the manager, he put forward his plans and it was an easy decision."

Bamford becomes Palace's second signing of the close-season after Yohan Cabaye joined from Paris Saint-Germain earlier this month.