Manchester City have agreed a deal worth £125 million to sign Chelsea midfielder Enzo Fernández.
The fee matches the British transfer record set by Liverpool when they signed Alexander Isak last summer.
It is also the second time Manchester City have broken their own transfer record this summer, after signing Elliot Anderson from Nottingham Forest for £116 million.
Fernández, 25, will now have a medical before completing his move to City. He is expected to sign a long-term contract, and personal terms are not expected to cause any problems.
The Argentina international joined Chelsea from Benfica in 2023 for £107 million. He quickly became an important player at Stamford Bridge and has won 49 international caps.
However, Fernández has reportedly wanted to leave Chelsea since March. He was hoping to join Real Madrid, but the Spanish club later confirmed that it would not make an offer.
Manchester City manager Enzo Maresca is keen to work with Fernández again. Maresca coached him at Chelsea before moving to City. The manager wants to strengthen his midfield after several players left the club this summer.
Tijjani Reijnders, Rodri and Nico González have all departed, while Bernardo Silva also left before joining Real Madrid as a free agent.
Chelsea have already made several major sales this summer. Nicolas Jackson has joined Aston Villa for £65 million, while Liam Delap moved to Nottingham Forest for £50 million. Fernández’s transfer will take Chelsea’s summer income from player sales to more than £400 million.
Chelsea needed to reduce their squad size after finishing 10th in the Premier League last season. They will not play in European competition this season.
The transfer is not yet complete, but Fernández is expected to become a Manchester City player once he passes his medical.
Elsewhere, Leeds have reached an agreement in principle to loan Jean-Matteo Bahoya from Eintracht Frankfurt with an option that could become an obligation to buy for €25 million, plus possible add-ons.
Other confirmed or advancing deals include Brighton defender Eiran Cashin returning to Derby on loan, Nottingham Forest’s Morato joining West Ham on loan with a permanent option, and Liverpool agreeing a deal for young goalkeeper Lucca Brughmans.
