Manchester City have reportedly agreed a blockbuster £125 million ($167 million) deal to sign Chelsea midfielder Enzo Fernandez, a fee that would equal the British transfer record.
According to reports on Tuesday, the Argentina international is now on the verge of completing his move to the Etihad Stadium on deadline day.
The proposed transfer would match the £125 million Liverpool paid Newcastle United for Sweden striker Alexander Isak last year.
Fernandez is familiar with City boss Enzo Maresca, who worked with the midfielder during his spell at Chelsea before leaving Stamford Bridge in January to take charge of the Premier League champions in the close season.
Maresca reportedly made Fernandez a priority after City sold influential midfielder and World Cup winner Rodri to Barcelona. The club have also lost Bernardo Silva, Nico Gonzalez and Tijjani Reijnders from their midfield ranks.
The 25-year-old Fernandez would form part of a revamped central midfield alongside England international Elliot Anderson and Morocco’s Ayyoub Bouaddi.
Anderson joined City from Nottingham Forest for £116 million, while Bouaddi reportedly cost £86 million, making him the most expensive teenager in Premier League history.
Chelsea manager Xabi Alonso had omitted Fernandez from his squad for the club’s previous two matches amid growing speculation over the midfielder’s future.
Fernandez joined Chelsea from Benfica for a British-record £106 million in January 2023. His time at Stamford Bridge has occasionally been overshadowed by transfer speculation, including reported interest in a move to Real Madrid, which previously resulted in him being dropped for two matches.
The midfielder has also been a controversial figure on the international stage. He was sent off during Argentina’s World Cup final defeat by Spain in July and previously drew criticism from England supporters for his provocative celebration after Argentina defeated Thomas Tuchel’s side in the World Cup semi-final.
Fernandez has won the UEFA Conference League and FIFA Club World Cup during his Chelsea career.
If completed, his move to Manchester City would represent one of the biggest transfers in Premier League history and underline the club’s major midfield rebuild.
