Chelsea will demand a British-record transfer fee to allow Enzo Fernandez to join Manchester City before Tuesday’s deadline, with the Premier League champions expected to pay about £130m for the midfielder.
Manchester City are determined to complete a deal for the Argentina international, while Fernandez is keen to work again with manager Enzo Maresca after enjoying a successful spell under him at Chelsea. However, the proposed transfer remains complicated because Chelsea want to sign replacements before allowing Fernandez to leave.
Chelsea initially placed a £120m valuation on the 24-year-old, but sources indicate the club now want a higher fee. Any agreement is expected to surpass the current British transfer record, which has already been broken twice during this summer’s window.
Manchester City paid £116m for Elliot Anderson before Chelsea moved ahead of them by signing Morgan Rogers for £117m. A fee of around £130m for Fernandez would establish a new record.
There is optimism among the parties that the transfer can be completed, despite the limited time remaining before the deadline. The move would also overtake the more than £120m Arsenal are reported to be prepared to pay for Julian Alvarez.
Fernandez joined Chelsea from Benfica in January 2023 for £106m after winning the World Cup with Argentina. He was linked with Real Madrid last season, although the Spanish club subsequently made clear they were not interested in signing him.
The midfielder has become a prominent target for criticism from rival supporters, but he is understood to be enthusiastic about the possibility of reuniting with Maresca at Manchester City.
Fernandez made significant progress during Maresca’s time at Chelsea. Together, they won a European trophy and the Club World Cup, while Chelsea also secured a return to the Champions League.
The biggest obstacle to the transfer is Chelsea’s need to strengthen their squad before sanctioning the sale. The club had identified Alex Scott as their preferred replacement for Fernandez, but Bournemouth have insisted the midfielder is not available.
Chelsea have also been linked with Martin Zubimendi, though Arsenal manager Mikel Arteta has said the Spain international cannot leave. Real Madrid’s Eduardo Camavinga is another player being considered as Chelsea assess their options in midfield.
The London club are close to completing a deal for Emiliano Martinez and remain in the market for a defender. Those recruitment plans are central to whether Fernandez can leave before the transfer window closes.
Manchester City and Fernandez remain hopeful that an agreement can be reached, but Chelsea’s conditions mean the proposed move is far from straightforward. If completed at the expected figure, the transfer would make Fernandez the most expensive player involved in this summer’s window and set a new British record.
