Manchester City have signed Argentina midfielder Enzo Fernandez from Chelsea for a joint-British record fee of £125 million ($169 million), the clubs confirmed on Tuesday.
The deal matches the fee Liverpool paid Newcastle United for striker Alexander Isak on deadline day last summer. Fernandez, 25, has agreed a five-year contract at the Etihad Stadium until 2031.
The transfer reunites the midfielder with former Chelsea manager Enzo Maresca, who left Stamford Bridge earlier this year to take charge at City. Fernandez becomes the first player in football history to be sold for more than £100 million twice, having joined Chelsea from Benfica for a then-British record £107 million in 2023.
City’s spending in the current transfer window has now exceeded £450 million. Chelsea will record an £18 million profit on the player.
Fernandez expressed his excitement after the move was completed.
“Every player wants to be part of a club like this because everyone knows how well-run City are,” he said in a statement released by Manchester City. “I could not be happier to be here, and I am ready for the challenge of helping City continue winning trophies. This is a club built for success.”
In another comment, he added: “Manchester City are the most successful club in England in recent times.”
The agreement was finalised late on deadline day after prolonged negotiations. Chelsea had earlier set a valuation of £120 million and a self-imposed deadline for bids that passed without a formal offer, before City’s improved £125 million proposal was accepted.
Fernandez leaves Chelsea after helping the club win the UEFA Conference League and FIFA Club World Cup. He scored 15 goals and provided seven assists across all competitions last season.
