West Ham vice-chairman Karren Brady told The Sun: "Financial rules on allowable losses may have played a part in the decision but, still, from all the newsreels I have seen, Cole is as cool a dude in front of goal as Jimmy Greaves himself.
"Which is probably why David Moyes tried very hard to sign him. We even had a deal agreed with City until Chelsea swooped.
"Pep Guardiola was certain Cole Palmer would be a star for Manchester City yet allowed him to go to Chelsea for about 40million.
"On the evidence of 20 goals this season, three of them of Greaves-like quality on Monday, you might expect that Guardiola is kicking himself.
"City's lack of a finisher against Real Madrid may have underlined his regret but I'd back Pep every time.
"And his explanation that he let Palmer leave because he would not guarantee him regular first-team football is a selfless act, both rare and generous.
"And it is bound to help Chelsea be a major rival over the next few seasons."