Chelsea set a firm 5 p.m. deadline on Friday for Manchester City to present a formal bid for midfielder Enzo Fernandez, but the clock ran out without any proposal arriving. As a result, the Argentine international, who Chelsea value at roughly £120 million, is now expected to remain at Stamford Bridge for the 2026/27 campaign.
The verbal terms that were reportedly tabled for Fernandez's representatives at the end of May – a package that other clubs could have matched – have apparently been withdrawn. While City have expressed interest in the player, who enjoyed a close working relationship with former Chelsea boss Enzo Maresca, there is no guarantee that the Premier League giants will completely abandon the idea of a takeover before the transfer window shuts on 1 September. Fernandez is 25 years old and is tied to Chelsea on a contract that still has six years left to run. His situation is further complicated by ongoing negotiations surrounding Barcelona’s captain Rodri.
City have already turned down two offers from Barcelona for the Spanish midfielder and are keen to retain him, hoping to secure a fresh contract before his current deal expires next summer. Should Barcelona eventually meet City’s valuation for Rodri, the English club might be forced to reconsider its stance on Fernandez, even though Chelsea have publicly declared that they will not entertain a sale of the Argentine either this summer or in the winter window.
Sky Sports’ Alan Irwin commented on the episode, noting that the deadline was a self‑imposed deadline by Chelsea and that Manchester City were unlikely to cooperate with a timetable set by a rival club. Irwin added that the hefty £120 million price tag Chelsea are demanding could push City to weigh other factors, most notably the potential departure of Rodri.
"Maresma is a huge admirer of Enzo Fernandez and knows exactly what he can bring to the squad," Irwin said, "but any deal will hinge on whether Rodri leaves for Barcelona." In the meantime, City have already identified replacement targets should any of their key midfielders depart. They are in active discussions with Lille about Moroccan youngster Ayyoub Bouaddi and have already secured the signing of Elliot Anderson from Nottingham Forest for a reported £116 million. These moves illustrate City’s broader strategy of maintaining depth across the midfield department.
Chelsea’s valuation of Fernandez remains high. The club originally acquired the player from Benfica in the winter window of 2023 for around £107 million, and they now seek a premium above that figure.
Relations between the two clubs have been strained ever since Maresma’s controversial exit from Chelsea. City paid Chelsea a £17 million compensation package to secure Maresma’s services this summer after he resigned from his Chelsea contract, which still had three and a half years left, amid speculation that he might succeed Pep Guardiola.
Chelsea imposed the deadline as a means of avoiding the distractions that erupted when Maresma’s sudden departure was announced on New Year’s Day. The club believes that interested parties have had nearly two months to make an approach, and they want the incoming manager Xabi Alonso and his squad to focus solely on preparing for the new season. Fernandez’s recent conduct has also added a layer of complexity.
In April he was dropped from the squad after admitting in an interview that he would welcome a move to Madrid. Both the player and his agent later issued an apology, explaining that the comments were made while they were negotiating improved contract terms with Chelsea. Real Madrid, meanwhile, issued a statement earlier this summer denying any intention to pursue Fernandez.
Overall, the situation remains fluid. While Chelsea appear resolute in keeping Fernandez for the immediate future, the ever‑changing dynamics of the transfer market – especially the fate of Rodri – could still open a pathway for Manchester City to re‑enter the conversation before the 1 September deadline. Fans of both clubs will be watching closely as the window draws to a close, aware that any last‑minute shift in negotiations could dramatically reshape the midfield landscape for the upcoming Premier League season.