Dyer has penned a deal to 2030 and now has been loaned to FC Volendam.
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The youngster will spend the season on-loan with Volendam in the Eerste Divisie.
Dyer made his first-team debut in December 2024, during a UEFA Conference League victory away at Astana.
Dyer joined Chelsea from West Bromwich Albion at the end of his Under-14s season and has represented England from Under-15s through to Under-19s level.