Manchester City have completed the signing of Chelsea midfielder Enzo Fernandez for a joint-British record fee of £125 million, ending one of the summer transfer window’s longest-running sagas.
The 25-year-old Argentina international becomes City’s second club-record signing of the summer, following the £116 million arrival of Elliot Anderson.
Fernandez’s move also makes him the first player in football history to complete two transfers worth more than £100 million, after Chelsea paid £107 million to sign him from Benfica in 2023.
His move to the Etihad comes as new City manager Enzo Maresca gets his preferred midfield target. Maresca is understood to have been keen on reuniting with his former Chelsea captain, believing Fernandez’s familiarity with his tactical system would allow him to make an immediate impact.
Fernandez brings considerable experience to a City midfield that has lost several senior players, including Rodri, John Stones and Bernardo Silva. He won the 2022 World Cup with Argentina and was named the tournament’s Young Player of the Tournament.
Why Chelsea agreed to sell
Fernandez had indicated earlier in the year that he was uncertain about remaining at Chelsea after Maresca’s departure from Stamford Bridge.
His preferred destination was reportedly Real Madrid, but the Spanish giants did not make an offer, with the midfielder considered too expensive.
Chelsea initially demanded £120 million for Fernandez and later raised their valuation to £135 million. City, however, refused to meet that figure and threatened to walk away before eventually submitting a £125 million offer, which Chelsea accepted.
The deal has helped Chelsea generate more than £425 million from player sales this summer, including add-ons.
The London club had hoped to use part of the proceeds to sign Monaco midfielder Lamine Camara for £47 million. However, that deal collapsed on deadline day after Monaco renegotiated an agreement involving striker Folarin Balogun and Everton.
Chelsea ultimately decided to honour their agreement with City, allowing Fernandez to complete his move despite being left without a direct replacement.
City, meanwhile, have started the new Premier League campaign with two victories and will hope Fernandez can provide the quality and leadership needed to challenge for domestic and European honours this season.
