Chelsea have read a major update for Enzo Fernandez as he agrees a Real Madrid contract

Chelsea’s business relationship with Real Madrid is becoming one of the defining stories of the summer transfer window.

The Spanish giants have already completed a deal for Marc Cucurella, which will end the left-back’s stay at Stamford Bridge after establishing himself as a star in west London.

That transfer was considered Chelsea’s biggest move of the summer.

However, reports now suggest that Real Madrid could be preparing another big move involving Chelsea’s key player.

This time, the focus is on Enzo Fernandez.

The Argentinian has become one of the most important players in the Chelsea team since he arrived from Benfica who was playing in the British.

Fernandez played a key role in the 2025/26 campaign and was one of the first names on the team sheet under Enzo Maresca and Liam Rosenior.

His midfield performances have been attracting attention from across Europe, and there were suggestions at one point that Maresca could take Fernandez to Man City.

Now, according to Sport Italia journalist Gianluigi Longari, Real Madrid has taken an important step towards the World Cup winner.

Enzo Fernandez agrees terms to join Real Madrid from Chelsea

Longari reports that Fernandez has reached a verbal agreement with the Spanish giants on a five-year contract.

He also said on social media this afternoon that Chelsea do not want to sell Fernandez, and the position is understood to remain unchanged despite Madrid’s expansion.

Fernandez remains under a long-term contract and is considered one of the cornerstones of Chelsea’s project. However, recent claims suggest the midfielder is ready to push for a transfer.

That could be an important factor as negotiations continue in the coming weeks.

According to Longari, the first contact between Chelsea and Real Madrid is expected soon, and Fernandez is worth at least £120 million.

This figure would place him among the most expensive midfielders in football history.

It will also represent a major financial decision for Real Madrid despite their willingness to invest heavily in elite talent.

Fernandez joined Chelsea after helping Argentina win the 2022 World Cup in Qatar. He was named the tournament’s best young player and quickly established himself as one of the most sought-after midfielders in Europe.

Since arriving in England, he has become a central midfielder for Chelsea.

His range of passing, progression of the ball and ability to dictate possession have made him a key player at Stamford Bridge, and those qualities are believed to be among the reasons why Real consider him attractive.

For Chelsea, the situation remains critical.

The club have already seen Cucurella move to Madrid this summer, and losing another top-class player to the same club would represent a huge blow for Xabi Alonso.

As things stand, no deal has been reached between the clubs, but the midfielder’s future has become a big issue for Chelsea this summer.