Manchester City have completed the signing of Enzo Fernandez from Chelsea for a joint-British transfer record of £125m.
The Fernandez deal takes City’s spending to a Premier League record £458m for a single transfer window, surpassing Liverpool’s £415m from last summer.
However, City have also achieved around £300m from player sales this summer.
Fernandez joined Chelsea from Benfica in 2023 for a then-British record fee of £107m, with his latest switch matching the £125m that Liverpool paid for Alexander Isak also on transfer deadline day last summer.
The clubs negotiated over the past 24 hours and reached an agreement earlier on Tuesday.
Fernandez, who had been keen to join Real Madrid earlier this summer, was booed by Chelsea fans during their friendly against Real Sociedad and again when he came on as a substitute in their Premier League opener at Fulham.
The 25-year-old was not involved in Chelsea’s 4-3 Premier League win over Brighton on Sunday or their 2-0 Carabao Cup victory against Luton three days earlier, as reports in Argentina suggested he asked to be left out of the squad.
“I want you to know that these have not been easy days for me,” Fernandez wrote in an open letter on Instagram addressed to Chelsea.
“Writing this is not easy either. The truth is, I haven’t been in a good place.
“From the moment I arrived [at Chelsea], I became obsessed with winning and with bringing this club every trophy that its history deserves.
“We suffered, we cried, I got angry many times, but we also celebrated titles and unforgettable victories. Together, through the good times and the difficult ones.”
Fernandez added Chelsea would “always be in my heart” and while the decision to leave had been “difficult”, he would “probably be thinking the same way” as the fans if he were in their position.
Chelsea set a deadline of 17:00 BST on 14 August for clubs to make offers of £120m or more for Fernandez, in an attempt to end uncertainty before the start of the 2026-27 season.
The Argentina international worked with City manager Enzo Maresca during the Italian’s reign at Chelsea.
Maresca is keen to work with him again after losing a host of midfielders this summer.
“I could not be happier to be here, and I am ready for the challenge of helping City continue winning trophies. This is a club built for success,” Fernandez told the club’s website.
“If you look across the squad, City have quality in every area. I want to learn from my new teammates and become a better player.
“I give absolutely everything and I can promise Manchester City that will continue now I’m here.”
It is the second time in two months that City have broken their own transfer record, following the £116m arrival of Elliot Anderson from Nottingham Forest in July.
Fernandez becomes the fourth player to move to a Premier League club for a fee of at least £100m this summer – following Morgan Rogers (£117m) to Chelsea, Bradley Barcola to Liverpool (£123m) and City’s signing of Anderson.
Four midfielders have departed Etihad Stadium this summer – Tijjani Reijnders joined Saudi Arabian club Al-Qadsiah for £52m, Barcelona signed Rodri for £65m, Nico Gonzalez made a £52m move to Newcastle and Bernardo Silva departed earlier in the summer before joining Real Madrid as a free agent.
City have also sold Savio to Tottenham for £75m, and will receive £60m from the London club next summer when Omar Marmoush’s loan move is made permanent.
City have reinforced by signing 18-year-old midfielder Ayoub Bouaddi from Lille for £86m, Brazilian winger Allan Elias for £34m, plus winger Jeremy Monga and goalkeeper Geronimo Rulli for more modest fees.
Their total summer outlay could rise further with Everton winger Iliman Ndiaye set to join after the clubs agreed a deal worth up to £65m.
Chelsea to register record income for single window
Chelsea had hoped to keep Fernandez earlier this summer but he has been pushing to leave the club since March, and wouldn’t change his mind.
Fernandez had been targeting a move to Real Madrid, but the Spanish club ultimately issued a statement to rule out making an offer.
The deal represents the second-biggest sale in Chelsea’s history after the one that saw Eden Hazard join Real Madrid in 2019, and means they are set to register a Premier League record for income generated from player sales.
Fernandez’s departure, alongside the recent £65m deal that took Nicolas Jackson to Aston Villa and Liam Delap’s £50m move to Nottingham Forest, has accelerated a staggering summer of sales now expected to be worth over £400m.
It is a substantial increase on the previous record of around £300m set by Chelsea last season.
Chelsea needed to trim their squad – they are out of European competition this season after finishing 10th and ended last season without a trophy.
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