Manchester City have finalized an agreement with Chelsea to acquire midfielder Enzo Fernandez for a fee of £125 million ($169 million), matching the British transfer record set by Liverpool’s purchase of Alexander Isak from Newcastle United last summer. The deal, which was completed late in the transfer window, grants Fernandez permission to undergo a medical examination with the Premier League champions.
The agreement concludes a protracted saga surrounding the 25-year-old Argentine’s future at Stamford Bridge. Just two weeks prior, on August 14, Chelsea had publicly indicated their expectation that Fernandez would remain with the club for the 2026-27 season, as their self-imposed deadline passed without a formal bid from City.
The west London side had set a £120 million valuation on the midfielder and firmly stated that any offer below that threshold would not be considered after the outlined timeframe had expired. Chelsea maintained that both City and Fernandez’s representatives had been aware of this valuation since May.
However, City’s pursuit gained momentum after their earlier bid of up to £80 million for Liverpool forward Cody Gakpo was rejected, prompting them to pivot their focus to Fernandez, as previously reported. The deal now brings a resolution to weeks of speculation.
Fernandez’s relationship with Chelsea supporters had become strained over the summer. He was subjected to booing from fans at Stamford Bridge during the final pre-season friendly against Real Sociedad and again in the opening Premier League fixture at Fulham. Following that match, he notably walked straight down the tunnel without acknowledging the traveling away support, and subsequently did not feature in the club’s next two outings—against Luton Town in the Carabao Cup or Brighton & Hove Albion in the league.
The midfielder originally joined Chelsea from Benfica in January 2023 for a then-club record £106.8 million, signing a contract that runs until 2032. His future had been called into question multiple times during the latter part of the 2025-26 campaign, culminating in former head coach Liam Rosenior dropping him for two games in April. Fernandez’s agent, former Argentina international Javier Pastore, labeled that disciplinary action “completely unfair” in an interview with The Athletic, though the player later apologized and was reintegrated into the squad.
City’s interest in Fernandez was first reported in April, and they have now moved decisively to bolster their midfield following the departures of Rodri to Barcelona and Tijjani Reijnders to Saudi Arabian side Al Qadsiah. The club has already secured England midfielder Elliot Anderson from Nottingham Forest for £116 million and Ayyoub Bouaddi from Lille for an initial €95 million this summer. Elsewhere, Tottenham Hotspur have signed Savio and Omar Marmoush.
Fernandez will now link up with new City manager Enzo Maresca, under whom he previously played for 18 months at Chelsea. Real Madrid, meanwhile, publicly dismissed reports linking them with the 2022 World Cup winner earlier in the summer. Over his spell at Chelsea, Fernandez made 170 appearances across all competitions, scoring 31 goals and providing 30 assists.
