Manchester City have agreed a £125 million ($169.08 million) deal with Chelsea for midfielder Enzo Fernandez, a fee that would match the Premier League’s all-time transfer record.
Fernandez has reportedly been allowed to complete his medical before the transfer window closes.
The proposed move would replicate the British record established last year when Liverpool bought Sweden striker Alexander Isak from Newcastle United. It would also take City’s spending during the current close season to almost £400 million.
City would surpass their previous club record for a signing, having paid up to £116 million for England midfielder Elliot Anderson in July.
Chelsea recruited Fernandez from Benfica in January 2023 on an eight-and-a-half-year contract, paying a then-record £106.8 million. During his time at Stamford Bridge, he helped the London club win the Conference League and the Club World Cup last year.
Should the transfer go through, the 25-year-old would be the first footballer to command a fee above £100 million on two separate occasions. He would also link up again with City manager Enzo Maresca, who departed Chelsea in January.
Fernandez’s departure would be a major setback for Xabi Alonso’s team, with Chelsea losing a midfielder able to control matches from deep while still offering an attacking threat.
City’s pursuit highlights their resolve to reinforce the centre of the pitch after they ended last Premier League campaign as runners-up, seven points adrift of champions Arsenal.
Fernandez enjoyed an outstanding 2025-26 campaign, scoring 15 times and registering seven assists in all competitions for Chelsea. Only Joao Pedro finished with more goals for the club.
The Argentina international was likewise central to his country’s 2026 World Cup run, finding the net in the last 16 and again in the semi-final before Argentina finished second to Spain.
City had already brought in Morocco midfielder Ayyoub Bouaddi for £86 million and Brazilian winger Allan Elias for approximately €40 million ($46.34 million) last month.
At the same time, the club moved on several players during the close season, with Savio, Rodri, Nico Gonzalez, Tijjani Reijnders, James Trafford and Nathan Ake among those sold for about £280 million in total. Bernardo Silva and John Stones, meanwhile, departed as free agents.
