Manchester City have agreed to pay a joint-British transfer record fee of £125m for Chelsea midfielder Enzo Fernandez.
Fernandez joined Chelsea from Benfica in 2023 for a then-British record fee of £107m, with his latest switch matching the £125m that Liverpool paid for Alexander Isak also on transfer deadline day last summer.
The clubs have been negotiating over the past 24 hours and have now reached an agreement.
Fernandez, 25, will now undergo a medical ahead of signing a long-term deal at City. Personal terms will not be an issue.
Argentina international Fernandez worked with City manager Enzo Maresca during the Italian’s reign at Chelsea.
Maresca is keen to work with him again after losing a host of midfielders this summer.
Fernandez was not involved in Chelsea’s 4-3 Premier League win over Brighton on Sunday or their 2-0 Carabao Cup victory against Luton three days earlier, as reports in Argentina suggested he asked to be left out of the squad.
Chelsea set a deadline of 17:00 BST on 14 August for clubs to make offers of £120m or more, in an attempt to end uncertainty before the start of the 2026-27 season.