Manchester City have completed the signing of Chelsea midfielder Enzo Fernandez for £125 million, in a British record-equalling transfer on the final day of the 2026 summer transfer window.
The 25-year-old Argentina international has signed a five-year contract with City and will reunite with former Chelsea manager Enzo Maresca at the Etihad Stadium.
The £125 million fee matches the British transfer record set by Liverpool’s signing of Alexander Isak from Newcastle United last summer.
Fernandez joined Chelsea from Benfica for a British-record £106 million in January 2023 and now becomes the first player to be transferred for more than £100 million twice in his career.
The midfielder had been pushing for a move away from Stamford Bridge, with City eventually reaching an agreement with Chelsea shortly before the transfer deadline.
Fernandez had a productive 2025/26 campaign, scoring 15 goals and providing seven assists as Chelsea finished their domestic season before representing Argentina at the 2026 World Cup.
“I could not be happier to be here. I am very excited for this new chapter,” Fernandez said after completing the move.
The transfer forms part of a major rebuilding exercise at Manchester City, who have invested heavily in their squad following a managerial change and their bid to challenge for the Premier League title.
Chelsea, meanwhile, were unable to secure a direct replacement for Fernandez before the transfer window closed.
The Blues explored several midfield options, including Bournemouth’s Alex Scott, but Bournemouth refused to entertain a late sale of the 23-year-old.
The club therefore enters the new campaign without replacing Fernandez with another established central midfielder, despite his departure creating a significant gap in the squad.
City’s signing of Fernandez caps a transfer window in which the club also spent heavily on players including Elliot Anderson and Ayyoub Bouaddi as part of its squad overhaul.
