Manchester City completed their summer spending lavishly as Argentine midfielder Enzo Fernandez joined for a reported British record-equalling £125 million ($169.08 million) from Chelsea on Tuesday. An hour after the 25-year-old posted a farewell message to Chelsea on social media, City confirmed they had completed the five-year deal, smashing their transfer record for the second time this summer. The deal was announced about 30 minutes after the window closed at 2300 BST (2200 GMT).
Fernandez's fee equals the British transfer record set when Liverpool signed Swedish striker Alexander Isak from Newcastle United last year as City's post-Pep Guardiola close-season rebuild reaches the £450 million ($607.3 million) mark. City earlier this summer broke their own record for their most expensive transfer after they signed England midfielder Elliot Anderson in July for a fee of up to £116 million ($156.6 million). Fernandez joined Chelsea from Benfica in January 2023 on an 8-1/2-year contract for a then-British record fee of £106.8 million and won the Conference League and the Club World Cup with the London side last year. The 25-year-old becomes the first player to be sold for more than £100 million twice in his career, and he will also reunite with City coach Enzo Maresca, who left Chelsea in January.
Recruiting Fernandez underscores City's determination to strengthen their midfield after finishing second in the Premier League last season, seven points behind champions Arsenal. Fernandez is coming off an impressive 2025-26 season where he scored 15 goals and provided seven assists across all competitions for Chelsea, finishing as the club's second-highest scorer after Joao Pedro. The Argentina international was also a key figure during the 2026 World Cup, where he scored crucial goals in the last-16 and semi-final as they finished runners-up to Spain. City have started the season with two wins in the Premier League and their huge outlay underlines the club's determination to regain the title from Arsenal.
It was their second big deadline-day signing after they paid £65 million ($87.7 million) for Everton forward Iliman Ndiaye and Anderson. City have also signed Morocco midfielder Ayyoub Bouaddi for £86 million ($116.1 million) and Brazilian winger Allan Elias for around €40 million ($46.34 million). City also offloaded several players in the close season, including Savio, Rodri, Nico Gonzalez, Tijjani Reijnders, James Trafford and Nathan Ake, recouping around £280 million, while Bernardo Silva and John Stones left for free.