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 on this day last summer.
The clubs have been negotiating over the past 24 hours and have now reached an agreement.
Fernandez will now undergo a medical ahead of signing a long-term deal at the Etihad Stadium. 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, while Fernandez is open to the move.
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.
It is the second time this summer that City have broken their own transfer record, following the £116m arrival of Elliot Anderson from Nottingham Forest.
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