This article first appeared on December 30 and has been updated with new information.
Benfica’s summer signing Enzo Fernández played his first game in Europe on August 2, followed a month and a half later by his debut for Argentina, and then it appeared that the 21-year-old World Cup winner could become the most expensive midfielder in football history. All this within five months. At least that seemed to be the case all the way leading up to Wednesday. But instead of a transfer to Chelsea being close, Fabrizio Romano and César Luis Merlo reported on Wednesday that the deal now seems to be falling apart.
Zidane, De Bruyne & Co. – The most expensive midfielders in history
According to consistent media reports from reliable sources Chelsea were very interested in signing Fernández as early as January, which would have required the Premier League club to trigger his €120 million release clause. Sports journalist Merlo, who is one of the best football sources in South America, reported that the Blues even offered €127m to avoid the payment terms of the exit clause. According to journalist Gastón Edul of TyC Sports, negotiations had proceeded well. Fernández is said to have agreed personal terms with Chelsea, with his entourage waiting for the clubs to agree on the structure of payments. Italian transfer expert Gianluca Di Marzio reported about an imminent deal on Monday night as well.
Indeed negotiations had gone on all day Monday and Tuesday but now appear to have hit a major obstacle. According to Merlo, Benfica wanted the full €120m as one single fee rather than accept a structured payment by Chelsea that would eventually reach €127m. Romano, in the meantime, reported that Chelsea never offered more than an initial €85m. Merlo added in a tweet that, bearing an exceptional turn in events, the negotiations between Chelsea and Benfica had now failed as the Premier League club was not capable of paying the full fee all at once because of Financial Fair Play. “Financial fair play is starting to get some teeth, and that will limit the ability to acquire players at any price,” Chelsea owner Todd Boehly said in July.
Chelsea move? Fernández’s youth club River Plate would earn over €30m
Benfica recently made it clear that they want to keep their high-flyer until the summer to bolster their own title ambitions. The Portuguese top club, undefeated in all competitions this season, are also still in the running in the Champions League, where they will meet Club Brugge in the round of 16 in February. Club president Rui Costa was ready to negotiate a sale with Chelsea in January, but according to South American expert Merlo the chances of a deal was always small. The Times, meanwhile, reported that Benfica had offered Fernández, the biggest market value winner in 2022, a new contract that would give him a significantly higher salary, and in return, Benfica would increase his exit clause to €200m.
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Portugal’s record champions acquired Fernández’s services for a fee of €12m from youth club River Plate in the summer of 2022. The price included a 25% sell-on clause. Should the newly-crowned World Cup winner move to London for €127m in January, €31.75m of that amount would go to Buenos Aires.
It now appears that a deal that would have made Fernández the most expensive midfielder and most expensive Argentinian in the history of football, as well as the most expensive signing in Premier League history is dead. n total, only four players have cost a higher transfer fee. Among midfielders, he would have replaced Paul Pogba, who joined Manchester United for €105m in 2016, and among Argentines, Gonzalo Higuaín, whom Juventus bought with the Pogba millions in the same summer. Since his transfer to Europe, Fernández has played 34 games for Benfica and Argentina, losing only to Saudi Arabia and advancing to become arguably the most coveted midfielder alongside England youngster Jude Bellingham.
Di María, Verón & Co. – The most expensive Argentinians in history
20 Ángel Di María | Benfica -> Real Madrid | Fee: €33m
