Chelsea Set €138m Price Tag on Their World Class Midfielder Amid Transfer Interest

Chelsea have reportedly placed a massive €138 million (£120 million) price tag on Enzo Fernandez as Real Madrid show growing interest in the Argentine midfielder. The Spanish giants, managed by Xabi Alonso, are expected to strengthen their midfield in 2026 and have identified Fernandez as one of their main transfer targets, according to reports from Spain.

Fernandez, who joined Chelsea from Benfica, has been a subject of interest for Real Madrid for several months. In response to the transfer speculation, Chelsea have made it clear that they have no plans to let him go unless an exceptional offer is made. Spanish outlet Fichajes claims the London club will only consider a sale if the offer is deemed “extraordinary.”

The 24-year-old midfielder is tied to a long-term contract at Stamford Bridge that runs until 2032, which gives Chelsea a strong negotiating position. Although Real Madrid have been closely monitoring him, the high asking price could force them to abandon their pursuit unless they are prepared to sell players or adjust their financial strategy to make room for the deal.

Alongside Fernandez, Real Madrid have also been linked with Chelsea’s Moises Caicedo, but any move for the Ecuadorian midfielder is also seen as highly unlikely given Chelsea’s reluctance to part with key players.

If Real Madrid were to meet Chelsea’s €138 million valuation, Fernandez would become the most expensive signing in the club’s history, surpassing the record set by Jude Bellingham, who joined from Borussia Dortmund in 2023 for an initial €103 million, with the total fee rising to €127 million after performance-related add-ons.