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Chelsea agree a £107million deal with Benfica for Enzo Fernandez.
Chelsea have signed Enzo Fernandez for a British record fee of £107 million after reaching an agreement with Benfica late on deadline day.
The eye-watering lunge for Chelsea’s No. 1 January target entered the last minutes of the transfer window on Tuesday, with both clubs locked in talks over the move for the Argentina international.
At one point, it looked as though Chelsea would fail to get the deal for the 22-year-old World Cup winner over the line – but both parties finally made a breakthrough just minutes before the 11 pm deadline. Fernandez will sign an eight-and-a-half-year deal through to June 2031.
Benfica confirmed the move in a statement in the early hours of Wednesday morning after the clubs completed the necessary paperwork prior to the deadline. The Portuguese club also removed Fernandez from their list of players on the club website.
Benfica have officially confirmed the transfer of Enzo Fernandez to Chelsea for €121million:
“Sport Lisboa e Benfica – Futebol, SAD reports that it has reached an agreement with Chelsea FC for the sale of all the rights of the player Enzo Fernández, for an amount of €121,000,000 [one hundred and twenty-one million euros].”
“It is further informed that Chelsea FC will have the right to retain the 3.78% solidarity mechanism for subsequent distribution to the clubs that participated in the player’s formation.”
“In addition, Benfica SAD will have charges for intermediation services of 6.56% of the value of the sale deducted from the amount of solidarity and will also have to deliver to River Plate the amount corresponding to 25% of the transfer value…”
The Blues teased an announcement by changing their Twitter bio to an Argentina flag followed by a trophy emoji.
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Chelsea’s co-controlling owner Behdad Eghbali – who also sanctioned Jorginho’s move to Arsenal on Tuesday – led negotiations for the World Cup winner with Benfica from London.
Sources had earlier said that Chelsea might come up just short and were prepared to focus on completing a summer move for Fernandez since it was too difficult to close a deal for this season.
But considering the club’s resolve to complete the relocation in January, Tuesday night’s agreement was welcomed with great relief.
Chelsea wanted to pay in six instalments, including one larger up-front payment.
However, Benfica initially demanded that Chelsea fulfil Fernandez’s £105 million release clause all at once. Talks on Tuesday were primarily aimed at negotiating that obstacle, with Chelsea offering to reduce the number of instalments.
It’s thought that Benfica was willing to accept a payment plan with three instalments spread out over two years, and a compromise was eventually achieved. Fernandez had always been open to moving, but out of respect for Benfica, he has chosen to keep out of any discussions.
Despite the holdup, Chelsea set up a private plane to transfer him to England and prepared for his medical in Portugal. On Wednesday morning, after completing the necessary documentation, he is scheduled to board the flight.
Benfica left the 22-year-old out of their squad to face Arouca on Tuesday and he also missed training on Monday. Personal terms had already been agreed upon.
With the signing, Chelsea has already spent more than £323 million in January.
Jorginho was also sold by the Blues to Arsenal in a deal for up to £12 million on a pivotal day for the Stamford Bridge team. On Monday, the Gunners turned to the Italian after giving up on their attempt to recruit Brighton’s, Moises Caicedo.
The midfielder, who signed an 18-month contract with a one-year option, will cost them an initial £10 million.