Chelsea had set a firm 5 p.m. deadline on Friday for Manchester City to present a formal bid for Argentine midfielder Enzo Fernandez, but the clock ran out without any proposal from the Premier League champions.
As a result, the expectation now is that Fernandez, who Chelsea have valued at around £120 million, will remain at Stamford Bridge at least until the 2026/27 campaign. The verbal terms and conditions that were reportedly floated to Fernandez's representatives in late May – terms that would have been acceptable to any club showing genuine interest – are now considered withdrawn. While City have expressed a clear interest in the 25‑year‑old, who previously worked closely with Enzo Maresca during Maresca's brief spell as Chelsea manager, the lack of a concrete offer suggests that the two sides have not yet reached a meeting point. Fernandez is currently tied to Chelsea on a contract that runs for another six years, providing the Blues with a strong negotiating position.
Nonetheless, there is still a slim chance that Manchester City could revive their pursuit before the international transfer window shuts on September 1. The situation is further complicated by ongoing negotiations surrounding Barcelona's pursuit of City captain Rodri.
Barcelona have already had two offers for the Spanish midfielder turned down, and City are keen to retain him while also securing a new deal, as his existing contract expires next summer. If Barcelona were to present a fee that satisfies City’s valuation of Rodri, the English club might feel compelled to revisit their stance on Fernandez. Chelsea have publicly stated that they will not consider selling the Argentine in either this summer’s window or the following winter one, but market dynamics can shift quickly when large sums and key squad members are involved. Sky Sports commentator Alan Irwin summed up the atmosphere, noting that the deadline was a self‑imposed deadline by Chelsea and that City were unlikely to cooperate with a timeline set by another club.
Irwin added that the hefty £120 million price tag could force City to weigh other variables, most notably the outcome of the Rodri saga. He highlighted Maresca’s admiration for Fernandez, stating that the former Chelsea boss knows exactly what the midfielder could contribute to Manchester City’s style of play.
However, Irwin stressed that any potential move would hinge heavily on whether Rodri departs for Barcelona. In parallel, Manchester City have already begun to line up replacements for any players they might lose. The club is in active discussions with Lille about Moroccan talent Ayyoub Bouaddi and has already secured the services of Elliot Anderson from Nottingham Forest for a reported £116 million, reinforcing their midfield depth. Chelsea’s valuation of Fernandez remains high, especially considering the club originally paid roughly £107 million to acquire him from Benfica during the 2023 winter window.
Relations between the two London clubs have been strained ever since Maresca’s contentious exit from Chelsea. City paid Chelsea a £17 million compensation package to bring Maresca on board this summer after he resigned from his Chelsea contract, which still had three and a half years remaining at the end of 2025. The Blues imposed the deadline to avoid the distractions that arose when Maresca’s sudden departure was announced on New Year’s Day. Chelsea’s management believes that interested clubs have had almost two full months to make an approach for Fernandez, and they want the incoming manager Xabi Alonso and his squad to focus entirely on preparing for the new season.
The midfielder was briefly dropped from the first team in April after he expressed a desire to live in Madrid, a comment that led to an apology from both the player and his agent. At the time, Fernandez and his representatives were also seeking improved contractual terms at Chelsea. Real Madrid, who were rumored to be monitoring the situation, issued a statement earlier this summer denying any intention to sign Fernandez.
The Argentine’s future therefore remains a topic of speculation, with the possibility of a late‑season bid from Manchester City still on the table, albeit contingent on the resolution of the Rodri transfer and the willingness of Chelsea to reconsider their firm stance. In summary, the deadline set by Chelsea has passed without a bid from Manchester City, leaving Enzo Fernandez at Stamford Bridge for now. The next few weeks will be crucial as the transfer market approaches its final days on September 1, and as clubs navigate the intertwined fates of Fernandez, Rodri, and other high‑profile targets. Fans of both clubs will be watching closely to see whether any last‑minute developments can reshape the summer’s transfer narrative.