Chelsea have reportedly reached a sensational agreement with Manchester City for the transfer of Argentine midfield star Enzo Fernandez, setting up one of the biggest moves of the 2026 summer transfer window.

The deal, agreed on transfer deadline day, September 1, 2026, is reported to be worth around £125 million, a fee that would equal the British transfer record. Fernandez has been given permission to undergo a medical as Manchester City race to complete the formalities before the window closes.

The dramatic move brings Fernandez closer to a reunion with Enzo Maresca, who previously worked with the midfielder at Chelsea before taking charge at Manchester City.

Fernandez’s future at Stamford Bridge had become the subject of intense speculation after he was left out of Chelsea’s recent squad. Manchester City quickly stepped up their interest, with negotiations accelerating during the final hours of the transfer window.

The 25-year-old joined Chelsea from Benfica in January 2023 for approximately £106.8 million, which was a British record at the time. Since arriving in London, the World Cup winner has established himself as one of Chelsea’s most important midfielders, combining creativity, passing range and work rate in the middle of the pitch.

Should the transfer be officially completed, Chelsea would make a significant return on their investment while losing one of the biggest names in their squad.

🚨💣 BREAKING: Enzo Fernández to Manchester City, HERE WE GO! 🇦🇷

Deal in place for fee over £125m after a long negotiation as Chelsea approved the sale.

Enzo only wanted Manchester City and he’s now set for medical at #MCFC. pic.twitter.com/R8rGpD24rc

— Fabrizio Romano (@FabrizioRomano) September 1, 2026

Manchester City, meanwhile, would be adding another elite midfielder to an already star-studded group as they continue reshaping their squad under Maresca.

Reports indicate that Chelsea have been exploring potential midfield replacements, with the club now facing a race against time to strengthen the position before the deadline.

For Fernandez, the proposed switch would represent another huge chapter in his career following spells with River Plate, Benfica and Chelsea, as well as his 2022 FIFA World Cup triumph with Argentina.

With a £125 million agreement now reportedly in place, all attention turns to the medical and final paperwork as Manchester City attempt to complete one of the most explosive transfers of deadline day.

If finalized, Fernandez’s move from Chelsea to Manchester City would undoubtedly rank among the headline deals of the summer.