British media is reporting that Manchester City have agreed to a deal for Enzo Fernandez with Chelsea valued at 125 million pounds ($169.08 million) – the Premier League transfer record. The Athletic source stated that Fernandez has been granted permission to be medically fit for City’s blockbuster signing before the window closes at 11pm BST on Tuesday.
The £125m price would be the British transfer record set when Liverpool signed Newcastle United winged player Alexander Isak last year. It would also require City spending nearly £400m during the summer. The move would be the biggest since a midfielder for England, Elliot Anderson, joined City in July for a possible £116 million transfer.
In January 2023, Fernandez signed with Chelsea on an eight and a half-year deal from Benfica for a fee of £106.8 million. The Argentina international then assisted the London club to win the Conference League and Club World Cup. The 25-year-old would become the first player to be sold twice for over £100m when he turned pro in the City. He would also meet with City boss Enzo Maresca, who previously worked for him at Chelsea.
A lack of Fernandez would create a huge void in the midfield at Chelsea. He has been a major figure of the team, as he can control the match from far distances and gives a decent push-up as well. City going for the midfield renewal after finishing seven points behind Premier League champions Arsenal at the end of last season.
Fernandez had a fantastic 2025-26 season with 15 goals and seven assists in all competitions. He was Chelsea’s top two scorers after Joao Pedro. He also contributed significantly to Argentina’s performance in the 2026 World Cup, netting in the last 16 and semi-final where Argentina lost to Spain.
