Manchester City have confirmed the signing of midfielder Enzo Fernandez from Chelsea for a fee of £125 million ($169 million), according to The New York Times. The deal, finalized on Tuesday, equals the existing British transfer record previously set by Liverpool’s purchase of Alexander Isak from Newcastle United last summer.
The transfer marks a significant milestone for the 25-year-old Argentina international, who becomes the first player in history to be sold for more than £100 million twice in his career. Fernandez originally joined Chelsea from Benfica in January 2023 for a then-British record of £106.8 million on an 8-1/2-year contract.
Negotiation Timeline and Terms
The deal follows a protracted period of negotiations. Chelsea had previously set a self-imposed deadline of August 14, stating that Fernandez would not leave the club this summer unless they received an offer of £120 million within that timeframe. While Manchester City allowed that window to pass, the two clubs eventually reached an agreement on Tuesday.
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According to reports, City had initially offered £104 million plus add-ons, but Chelsea insisted on a fixed fee. On Monday, Chelsea specified a price of £135 million before the parties finally settled on the £125 million figure. Fernandez has since been granted permission by Chelsea to undergo a medical ahead of the transfer window deadline at 2300 BST on Tuesday, as reported by Reuters.
Midfield Overhaul at Manchester City
The acquisition of Fernandez is part of a broader effort by Manchester City to strengthen their midfield after finishing second in the Premier League last season, seven points behind champions Arsenal. The club’s close-season spending has reached nearly £400 million.
Fernandez joins a revamped engine room that includes recent signings Elliot Anderson, who arrived from Nottingham Forest for £116 million, and Ayyoub Bouaddi from Lille for an initial €95 million (£86 million). This recruitment follows the departures of several key players, including Rodri, who joined Barcelona, and Tijjani Reijnders, who moved to Al Qadsiah in Saudi Arabia. Other players offloaded during the close season include Nico Gonzalez, Savio, James Trafford, and Nathan Ake, with the club recouping approximately £280 million. Bernardo Silva and John Stones also left the club on free transfers.
Performance and Impact at Chelsea
During his three-and-a-half years at Stamford Bridge, Fernandez made 170 appearances, contributing 31 goals and 30 assists. He was a key component of the squad that won the Conference League and the Club World Cup. In the 2025-26 season, he recorded 15 goals and seven assists, making him Chelsea’s second-highest scorer behind Joao Pedro.
Fernandez will be reunited with City manager Enzo Maresca, under whom he played for 18 months at Chelsea. Maresca utilized the Argentine as a goalscoring midfielder in an advanced left-pocket position. Despite his on-field success and role as de facto vice-captain behind Reece James, Fernandez’s final months at Chelsea were marked by instability. He cast doubt on his future during the 2025-26 campaign and was dropped for two games in April by former head coach Liam Rosenior—a punishment his agent, Javier Pastore, described as completely unfair
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Challenges for Chelsea
The loss of Fernandez is viewed as a blow to Xabi Alonso’s side, as the club loses a player capable of dictating play and progressing the ball into the final third. Chelsea has struggled to identify a replacement; while they have been linked with Roma’s Manu Kone and Monaco’s Lamine Camara, those deals have faced obstacles. The club has also seen three offers for Bournemouth’s Alex Scott turned down.
The departure resolves a “drawn-out saga” for the west London club, which has seen Fernandez miss recent matches against Brighton & Hove Albion in the league and Luton Town in the Carabao Cup.
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