Arsenal Joins Enzo Fernandez Transfer Battle – Arteta Focuses on Tonali
Arsenal have stepped into one of the summer’s biggest transfer battles, joining Manchester City and Real Madrid in the hunt for Chelsea midfielder Enzo Fernandez – even though the Argentine is not Mikel Arteta’s first-choice target.
Chelsea shattered the British transfer record in February 2023 when they sent £107 million to Benfica for Fernandez. The fee has since been eclipsed by deals for Moises Caicedo, Florian Wirtz and Alexander Isak, but the scale of that outlay still defines his time at Stamford Bridge.
The early months were bumpy. Fernandez looked like a luxury piece in a team still trying to work out what it wanted to be. This season, he stopped being a symbol and became a pillar. While Chelsea slumped to 10th in the Premier League and lost the FA Cup final to Manchester City, Fernandez quietly put together a standout campaign: 15 goals and seven assists in 54 appearances, a production level that underlined his status as one of the few dependable figures in a turbulent squad.
Now he wants out.
The 25-year-old does not intend to wait around for Chelsea’s project to finally catch up with his ambitions for Premier League and Champions League titles. The departure of head coach Enzo Maresca, with whom he enjoyed a strong relationship, only hardened that stance. According to reports, Fernandez has already instructed his agent to speak to interested clubs.
Chelsea’s new manager Xabi Alonso sees things very differently. He views Fernandez as central to any future success and wants to keep him at the heart of his rebuild. The problem for Alonso is that the player has options – and heavyweight ones.
Arsenal enter the frame – but Tonali tops the list
CaughtOffside report that Arsenal have “joined the race” for Fernandez and are closely tracking developments, ready to test Chelsea’s resolve with a raid on their London rivals if the opportunity presents itself.
Yet inside the Emirates, there is a different name at the top of Arteta’s midfield wish list: Sandro Tonali.
The Gunners first made contact with Tonali’s representatives in January and have not stepped away since. The Newcastle United midfielder, keen on a fresh start and attracting attention from both Arsenal and Manchester United, is valued at around €100m (£87m). For Arteta, Tonali is the priority profile – a player to shape the core of his midfield for years, not just a glamorous addition.
Arsenal, then, are playing a careful game. They are keeping Fernandez in their sights, but not at any cost and not at the expense of their main target.
Madrid calling
The biggest threat to Chelsea’s hopes of keeping Fernandez does not come from north London anyway. It comes from Spain.
Reports in the Spanish press on Thursday suggested Fernandez would prefer a move to Real Madrid over Manchester City. During the March international break, he openly admitted he would like to live in Madrid, even likening the Spanish capital to Buenos Aires. That comment did not go unnoticed.
Inside the Bernabeu power structure, there is alignment. Jose Mourinho and president Florentino Perez agree that Madrid need to bring in an elite midfielder to refresh a department that has carried them for a decade. With City unwilling to entertain serious offers for Rodri, attention naturally swings towards Fernandez.
For a club accustomed to plucking the game’s most polished talents at just the right moment, the Argentine fits the pattern: proven on the biggest stages, still in his mid-twenties, and restless at a club in flux.
Chelsea’s stance and City’s position
Chelsea, however, are not in the mood to cut their losses. They do not want to absorb a major financial hit on a player they made the face of their rebuild only last year. His price has been set at €120m (£104m), just under what they originally paid Benfica. That figure is designed to make only the most serious bidders step forward.
Manchester City have been linked, but the situation there is more nuanced. Transfer specialist Fabrizio Romano has made it clear that Maresca “loves” Fernandez, yet City are not currently in active talks over a deal. Their main focus in midfield remains Nottingham Forest’s Elliot Anderson. Only if they fail to land Anderson could Fernandez move up their list as an alternative.
So the picture is layered. Chelsea want to keep him. Alonso wants to build around him. Fernandez wants to leave. Madrid are circling. City are watching. Arsenal are lurking, but with Tonali in bold at the top of their board.
Some sagas drag on without ever truly catching fire. This one already has all the elements: a record fee, a restless star, a demanding selling club and three of Europe’s most powerful sides hovering.
Who blinks first?
