Chelsea have signalled that they are willing to part ways with midfielder Enzo Fernandez, should Manchester City present an offer that meets their valuation, while also looking to strengthen their own squad before the transfer window shuts. Although no formal negotiations between the two clubs have been reported so far, the Blues chose to omit Fernandez from their Carabao Cup victory over Luton Town on Thursday, a move that has sparked further speculation about his future.

Following the match, Chelsea boss Xabi Alonso praised Fernandez as a "good professional" who has been performing well in training. He added that a decision on whether the Argentine will feature in the upcoming Premier League clash with Brighton will be taken closer to the date, indicating that his exclusion was tactical rather than disciplinary. Manchester City’s interest in the 22‑year‑old has not waned, even though they missed the August 14 deadline that would have allowed them to submit a bid under the terms previously discussed.

Chelsea had reportedly reached an understanding with Fernandez’s representatives that the player could be sold for around £120 million by that cut‑off, but no concrete offer materialised before the window closed. Alonso also remarked, ahead of the Luton game, that the club is "prepared for whatever" happens with any players who might depart before the deadline, underscoring the fluid nature of this summer’s market for the Blues.

In terms of midfield reinforcements, Chelsea have identified a few targets. Bournemouth’s Alex Scott and Crystal Palace’s Adam Wharton have been mentioned as potential signings, although both of their current clubs consider them essential and are unlikely to entertain offers. Manchester City, meanwhile, have listed Alex Scott among their own midfield priorities, alongside Roma’s Manu Kone.

The need to bolster the central area has become even more pressing for Pep Guardiola’s side after the departure of Rodri to Barcelona earlier this month, leaving a sizable void in the midfield engine room. Recent activity in the transfer market has seen several high‑profile moves that could influence both clubs’ strategies. Nico González left Chelsea for Newcastle United in a deal that could rise to £50 million, while Tijjani Reijnders moved to Al‑Qadsiah for roughly £51 million. Bernardo Silva’s contract expired, and he subsequently joined Real Madrid, freeing up wages for the City squad.

City have also broken the world‑record for a teenager by signing Ayyoub Bouaddi from Lille for £86 million, a clear statement of intent to invest in youthful talent. In addition, England international Elliot Anderson arrived from Nottingham Forest for a reported £116 million last month, further reinforcing their midfield options. Alonso confirmed in his post‑match press conference that the decision to leave Fernandez out of the Carabao Cup line‑up was purely tactical.

"It was just because of the game," he explained, adding that other squad members needed minutes. When asked when he made the call, Alonso replied that it was taken that afternoon and emphasized that Fernandez remains a professional who trains well, but squad rotation dictated the choice. In other transfer news, Chelsea have agreed to a £7.5 million deal with Aston Villa for goalkeeper Emi Martínez.

The Blues are reportedly considering the move after their current No. 1, Robert Sánchez, faced criticism for a mistake in the recent Premier League win over Fulham. Martínez, who became surplus to requirements at Villa following the club’s £30 million acquisition of Zion Suzuki from Parma, was also linked with Juventus, though the Italian giants ultimately opted for Guglielmo Vicario from Tottenham.

The goalkeeper situation at Stamford Bridge now appears uncertain. Both Sánchez and backup keeper Mike Penderi have featured recently—Sánchez started the Fulham game while Penderi was in goal for the Carabao Cup tie against Luton—leaving fans to wonder who will retain the starting role for the remainder of the season. Overall, Chelsea are navigating a complex summer landscape: they must decide whether to cash in on Fernandez for a fee that reflects his potential, while simultaneously addressing gaps in midfield and goalkeeping. Manchester City, on the other hand, are aggressively expanding their midfield depth after losing a key player, and are prepared to meet Chelsea’s price tag if it aligns with their budget and strategic goals.

The coming weeks will likely reveal whether a deal materialises, or if both clubs will pursue alternative routes to achieve their respective objectives before the transfer window finally closes.