Manchester City have agreed a deal with Chelsea to sign Enzo Fernandez for £125m.
The deal matches the British record transfer fee Liverpool paid for Newcastle striker Alexander Isak during last year’s summer Deadline Day.
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 have been negotiating over the past 24 hours and have now reached an agreement.
Fernandez, 25, will now undergo a medical ahead of signing a long-term deal at City. Personal terms will not be an issue.
Argentina international Fernandez 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.
It is the second time this summer that City have broken their own transfer record, following the £116m arrival of Elliot Anderson from Nottingham Forest.
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.