Palanco played youth football for CE Mataró as a midfielder before being forced to retire at the age of 17 due to a serious knee injury.
[2] In 2009, he was named technical director of FC Barcelona's Academy in Fukuoka, Japan.
[3][4] On 17 July 2013, Palanco was appointed manager of Thai Premier League side Ratchaburi Mitr Phol FC.
[5] He was sacked on 24 December, after three wins in nine matches, and was subsequently replaced by compatriot Ricardo Rodríguez.
[6] From 2014 onwards, Palanco started working with Miguel Ángel Lotina, being his assistant at Al-Shahania SC, Tokyo Verdy,[7] Cerezo Osaka, Shimizu S-Pulse,[8] Vissel Kobe.