Manchester City have reached an agreement with Chelsea to sign Enzo Fernandez in a blockbuster £125 million deadline-day transfer that will match the British record.
Chelsea have given the Argentina international permission to undergo a medical and complete his move to the Etihad Stadium after lengthy negotiations between the Premier League rivals finally produced a breakthrough.
The £125m package matches the British transfer record set when Liverpool signed Alexander Isak from Newcastle United for £125m in 2025.
Fernandez gets his preferred Man City move
The transfer represents a dramatic turnaround after Chelsea initially appeared determined to keep the 25-year-old.
Earlier this summer, the Blues valued Fernandez at £120m and set City a deadline to make an offer. That deadline passed without a bid, leading Chelsea to expect the midfielder to remain at Stamford Bridge for the 2026/27 campaign.
However, City’s interest never disappeared.
Negotiations accelerated during the final hours of the transfer window, with Fernandez making it clear that Manchester City was his preferred destination.
Chelsea ultimately accepted a £125m package, while Fernandez has now been cleared to undergo his City medical.
The move will also reunite Fernandez with Enzo Maresca, who worked with the midfielder during his time as Chelsea manager.
City complete extraordinary midfield rebuild
Fernandez becomes another major piece of City’s dramatic midfield reconstruction this summer.
Maresca’s side have already spent heavily to sign England international Elliot Anderson from Nottingham Forest and highly rated teenager Ayyoub Bouaddi from Lille.
Their recruitment has followed several significant midfield departures, including Rodri’s move to Barcelona and Nico Gonzalez’s switch to Newcastle United.
Fernandez brings extensive Premier League experience and the ability to dictate possession from central midfield.
Chelsea originally signed him from Benfica for £106.8m in January 2023, at the time making him the most expensive player in British football.
He subsequently became an influential figure at Stamford Bridge and enjoyed some of his best football under Maresca.
Chelsea make huge profit on Argentina star
Selling Fernandez for £125m means Chelsea will receive around £18m more than the headline fee they committed to sign him from Benfica three-and-a-half years ago.
His departure also leaves Chelsea racing to strengthen their midfield before the window closes.
The Blues have been pursuing Monaco’s Lamine Camara, although a £38.5m offer was rejected, with Monaco seeking considerably more for the Senegal international. Roma midfielder Manu Koné has also been considered.
Manchester City, meanwhile, are now attempting to complete one of the biggest transfers in Premier League history before the 11pm deadline.
An official announcement from the clubs remains outstanding, meaning the transfer is not yet formally completed. But the £125m agreement is in place, Fernandez has been granted permission to undergo his medical and the Argentina international is closing in on becoming a Manchester City player.
