By Francis Onyach - Reporter
UK, 13 August 2026 - Chelsea have drawn a clear line in the sand over Enzo Fernández’s future, with the club demanding a £120 million net fee for the Argentina international and setting a firm deadline for any interested club to complete a deal.
As of the latest reporting on Thursday, August 13, Chelsea’s position remains that they are prepared to keep Fernández at Stamford Bridge if their valuation is not met. The Athletic and David Ornstein report that Chelsea have told Manchester City and any other potential suitors that a £120m net offer must arrive by 5pm UK time on Friday, August 14, otherwise the midfielder will remain at the club.
The development comes amid growing Manchester City interest in the 25-year-old, who has emerged as a potential replacement for Rodri if the Spain international completes his expected move to Barcelona.
Chelsea's stance has not changed#
Chelsea's position is particularly significant because the club are not believed to be interested in entering prolonged negotiations over Fernández's price.
The Blues have communicated a fixed £120m valuation, with the payment terms also clarified to interested parties. According to Fabrizio Romano, Chelsea's message is effectively "take it or leave it": if a club meets the financial conditions before the deadline, a transfer can be considered. If not, Fernández stays.
Chelsea's willingness to keep the player is also important.
The club do not view Fernández as surplus to requirements. Instead, they are understood to be comfortable with him remaining part of Xabi Alonso's squad for the new season if a suitable offer does not materialise.
Manchester City are the club pushing hardest#
Manchester City have emerged as the principal candidate for Fernández's signature.
The interest is closely linked to uncertainty surrounding Rodri. Barcelona have made multiple approaches for the Spanish midfielder, with City holding firm on their valuation while negotiations continue. If Rodri leaves the Etihad, City manager Enzo Maresca is keen to bring in Fernández as part of the midfield rebuild.
Maresca already knows Fernández from his time as Chelsea head coach. Reports indicate that the Italian manager has been an admirer of the Argentine midfielder and had identified him as a potential target even before the situation surrounding Rodri intensified following the World Cup.
There has already been contact between Manchester City and Fernández's representatives, but the central issue remains Chelsea's valuation.
Chelsea's deadline dramatically changes the situation.
Rather than allowing negotiations to continue until the end of the transfer window, the London club have effectively given City until 5pm Friday to produce an acceptable offer.
That leaves City with very little room for manoeuvre.
The reported £120m requirement is considerably higher than the sort of figure City have been expected to consider for the midfielder, meaning the next 24 hours could determine whether Fernández actually changes clubs.
The timing also gives Chelsea significant leverage.
If City fail to meet the demand, Chelsea can simply close the door on the transfer and retain a player who remains an important part of their squad.
Why Fernández is so valuable to Chelsea#
Fernández joined Chelsea from Benfica in January 2023 for a British-record fee at the time, following his outstanding 2022 World Cup campaign with Argentina.
He has since established himself as one of Chelsea's most important midfielders.
His passing range, vision, ability to dictate tempo and capacity to contribute in the final third have made him a central figure in the team's midfield.
He has also enjoyed considerable success at Stamford Bridge, helping Chelsea win the UEFA Conference League in 2025 and the FIFA Club World Cup later that summer.
The midfielder's importance is one reason Chelsea are unwilling to sell him cheaply.
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A £120m sale would represent a substantial financial return, but Chelsea would also need to replace a player who has become central to their midfield structure.
The possibility of Fernández leaving has nevertheless forced Chelsea to consider alternatives.
ESPN reports that Chelsea could look at Arsenal midfielder Martín Zubimendi as a potential replacement should Fernández join Manchester City.
That does not necessarily mean Chelsea expect Fernández to leave.
Instead, it reflects the reality of the transfer market: with City's interest becoming serious and a firm deadline now established, Chelsea must be prepared for either outcome.
No acceptable offer means Fernández stays#
The most important part of Chelsea's latest stance is what happens if City fail to pay.
Fernández will remain at Stamford Bridge.
That has been made clear to the relevant parties, with Chelsea insisting that they are not under pressure to sell.
The situation is therefore straightforward:
£120m net by 5pm Friday, or Fernández stays at Chelsea.
The club have also reportedly made the payment structure clear, meaning an interested club cannot simply reach the headline figure while proposing terms Chelsea are unwilling to accept.
A dramatic end to the transfer saga#
The next day could therefore be decisive.
Manchester City have a genuine need for midfield reinforcement if Rodri leaves, while Maresca's admiration for Fernández makes the Chelsea midfielder an obvious target.
But Chelsea have placed a very high price on the deal.
With the deadline approaching, City must now decide whether Fernández is worth the full £120m net demanded by Chelsea.
If they agree, one of the summer's biggest Premier League transfers could be completed at extraordinary speed.
If they refuse or fail to meet the deadline, Chelsea will shut down the possibility of a sale and move forward with Fernández as part of Alonso's squad.
For now, there is no completed transfer and Chelsea's position remains unchanged: £120m net, acceptable payment terms and a Friday 5pm deadline.
The ball is firmly in Manchester City's court.
Chelsea Set Firm £120m Deadline for Enzo Fernández as Manchester City Face Race Against Time
The Blues have communicated a fixed £120m valuation, with the payment terms also clarified to interested parties.