Manchester City have reached an agreement with Chelsea to sign midfielder Enzo Fernandez for £125 million ($169.08 million), British media reported on Tuesday, with the fee set to equal the Premier League transfer record.
The Athletic reported Fernandez was given permission by Chelsea to undergo a medical.
The fee would equal the British transfer record set when Liverpool signed Swedish striker Alexander Isak from Newcastle United last year as City’s close-season spend touches nearly £400 million.
City would also be breaking their own record for their most
expensive transfer after they signed England midfielder Elliot
Anderson in July for a fee of up to £116 million.
Fernandez joined Chelsea from Benfica in January 2023 on an
8-1/2-year contract for a then-British record fee of £106.8
million and won the Conference League and the Club World Cup
with the London side last year.
The 25-year-old would become the first player to be sold for
more than £100 million twice in his career while he will also be
reunited with City coach Enzo Maresca, who left Chelsea in
January.
His exit would deal a significant blow to Xabi Alonso’s side
as they lose a player capable of dictating games from deep
positions while also contributing in attack.
Recruiting Fernandez underscores City’s determination to
strengthen their midfield after finishing second in the Premier
League last season, seven points behind champions Arsenal.
Fernandez is coming off an impressive 2025-26 season where
he scored 15 goals and provided seven assists across all
competitions for Chelsea, finishing as the club’s second-highest
scorer after Joao Pedro.
The Argentina international was also a key figure during the
2026 World Cup, where he scored crucial goals in the last-16 and
semi-final as they finished runners-up to Spain.
City had already signed Morocco midfielder Ayyoub Bouaddi
for £86 million as well as Brazilian winger Allan Elias for
around €40 million ($46.34 million) last month.
However, City also offloaded several players in the close
season, including Savio, Rodri, Nico Gonzalez, Tijjani
Reijnders, James Trafford and Nathan Ake, recouping around £280
million, while Bernardo Silva and John Stones left for free.
Source: Khaleej Times