Argentine midfielder granted permission for medical as City confirm deadline-day agreement matching British transfer record
Manchester City have reached an agreement with Chelsea to sign midfielder Enzo Fernandez for £125 million, a fee that matches the current British transfer record, with the deal confirmed shortly after the summer transfer window closed on 1 September 2026. The 25-year-old Argentine has been granted permission by Chelsea to undergo a medical examination with City as the two Premier League clubs finalize the move. The agreement was struck on transfer deadline day following months of negotiation between the two clubs.
The fee equals the £125 million Liverpool paid to sign Alexander Isak from Newcastle United, which had previously stood as the British transfer record. According to reporting from the Irish Times, the deal for Fernandez is structured as a fixed fee with no add-ons or performance-related clauses, distinguishing it from many modern transfer structures that include incremental bonuses.
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How the Deal Came Together on Deadline Day
Manchester City's interest in Fernandez was first reported as early as April 2026, when The Athletic revealed the club was exploring the midfielder as one of several options to strengthen their engine room, alongside other targets including Nottingham Forest's Elliot Anderson. At that stage, City's interest was described as being in its preliminary phases.
The negotiations intensified in mid-August, when Chelsea set a firm deadline of 5pm that Friday for City to make a formal offer. Chelsea communicated a valuation of £120 million to both Manchester City and Fernandez's representatives, warning that the player would not be sold if that figure was not met by the stated deadline. Reports from Argentine outlet TyC Sports later in August suggested a deal worth around €140 million had been struck, alongside claims that Fernandez would sign a contract running until 2032, though English-language reporting subsequently settled on the £125 million figure that has now been confirmed by multiple outlets including The Athletic, the BBC and Sky Sports.
The agreement was finally struck on 1 September, transfer deadline day, with reporters David Ornstein of The Athletic and Fabrizio Romano among the first to confirm the terms as the clock ticked down toward the 11 p.m. BST deadline. Manchester City's confirmation of the signing came shortly after the transfer window had officially closed.
A Fee That Rewrites Chelsea's Own Transfer History
The £125 million fee represents a significant premium on what Chelsea themselves paid to sign Fernandez in the first place. The midfielder joined Chelsea from Benfica in January 2023 for a then-British record fee of approximately £107 million, a deal that came with an eight-and-a-half-year contract running through to 2032. That long-term commitment was a key reason Chelsea initially resisted pressure to sell, and it strengthened their negotiating position when City came calling this summer.
Reporting from The Athletic in the spring of 2026 noted that comments made by Fernandez in March had raised questions about his long-term future in west London, feeding into the speculation that eventually culminated in his departure. By selling for £125 million, Chelsea recoup a fee well above their original outlay, a factor that could support the club's broader financial planning and squad restructuring even as they lose a central creative and defensive-minded presence from midfield.
What the Signing Means for Manchester City and Enzo Maresca
For Manchester City, the deal delivers a marquee addition to a midfield that manager Enzo Maresca has been keen to reinforce. Reports describe Fernandez as the midfielder Maresca "desperately wanted," framing the transfer as a significant coup completed in the closing hours of the window. City's willingness to match the British transfer record underlines the club's continued readiness to spend at the very top end of the market for players regarded as essential to their tactical plans.
Fernandez arrives with a growing reputation as one of the leading young midfielders in world football, having established himself at both Benfica and Chelsea before this move. His arrival is expected to prompt close scrutiny of how he fits into Maresca's system at City, while Chelsea will face questions over how they replace his profile in central midfield following his exit.
Remaining Steps Before the Move Is Finalized
With the fee agreed, the transfer now hinges on Fernandez completing a medical examination with Manchester City and finalizing personal contract terms, both of which were described as being in progress as of deadline day. Once those formalities are completed, City are expected to formally present Fernandez as their new signing, with a long-term contract anticipated given both his age and the scale of the fee involved.
The deal cements Fernandez's status among the most expensive transfers in Premier League history, sitting alongside Alexander Isak's move to Liverpool at the top of the British record list. As reporting continues to confirm the final details, attention will now turn to Fernandez's medical, his unveiling at Manchester City, and the tactical adjustments both clubs must make heading into the new season.
