Manchester City are preparing an opening bid for Chelsea midfielder Enzo Fernández as the Premier League champions consider a late move for the Argentina international before the summer transfer window closes.

Fernández has emerged as a major target for City manager Enzo Maresca, who is looking to strengthen his midfield following significant changes to his squad. Chelsea value the 25-year-old at around £120 million, a figure that would make him one of the most expensive players in Premier League history.

Reports indicate that City are now ready to test Chelsea’s resolve with a formal offer, despite previously failing to meet a deadline imposed by the London club.

Chelsea had given City until 5pm on August 14 to submit a £120 million offer for Fernández, but no bid arrived before the deadline. Chelsea subsequently indicated that they expected the midfielder to remain at Stamford Bridge for the 2026/27 campaign.

However, City have continued to monitor the situation and are now preparing a fresh approach ahead of the September 1 transfer deadline.

The latest reports suggest City’s opening proposal could be around £100 million, potentially rising with performance-related add-ons, although Chelsea’s £120 million valuation remains a major obstacle.

Fernández is reportedly open to the possibility of reuniting with Maresca, who previously worked with the midfielder at Chelsea.

The pursuit of Fernández comes as City undertake a major reconstruction of their midfield.

The club have already signed Elliot Anderson from Nottingham Forest for £116 million and have completed the signing of highly rated Lille teenager Ayyoub Bouaddi in a deal worth up to €100 million.

City are also dealing with uncertainty surrounding Rodri, with Barcelona having made multiple attempts to sign the Spain international. The midfielder’s future could have a major influence on whether City push ahead with their pursuit of Fernández.

If Chelsea agree to sell Fernández for £120 million or more, the deal would place the Argentine among the most expensive signings in Premier League history.

Fernández joined Chelsea from Benfica in January 2023 for a British-record fee of approximately £106.8 million at the time. He has since established himself as a key figure in the Chelsea midfield.

A move to City would therefore represent another enormous financial transaction for the midfielder and could become one of the defining deals of the summer window.

For Chelsea manager Xabi Alonso, however, losing Fernández so late in the window would present a major squad-building challenge. Alonso has previously avoided committing himself to the midfielder’s long-term future amid the transfer speculation and has indicated that he wants the situation resolved.

With the transfer deadline approaching, Fernández’s future remains one of the biggest unresolved stories of the Premier League summer window.