Arsenal Joins Enzo Fernández Transfer Chase Amid Midfield Priorities
Arsenal have stepped into one of the summer’s most expensive transfer battles, positioning themselves alongside Manchester City and Real Madrid in the pursuit of Chelsea midfielder Enzo Fernández – though the World Cup winner is not at the very top of Mikel Arteta’s shortlist.
Chelsea shattered the British transfer record in February 2023 to prise Fernández from Benfica for £107m. That fee has since been overtaken by deals for Moises Caicedo, Florian Wirtz and Alexander Isak, but the scale of Chelsea’s investment underlined how central they believed the Argentine would become to their rebuild.
The adaptation period was bumpy. Fernández struggled to impose himself consistently in a chaotic first few months at Stamford Bridge. The club lurched from one false dawn to another, and the weight of that fee followed him into every performance.
This season, he shook it off.
In a side that slumped to 10th in the Premier League and lost the FA Cup final to Manchester City, Fernández quietly put together a standout campaign. Fifteen goals and seven assists in 54 appearances told the story of a midfielder who began to drive Chelsea’s play rather than simply decorate it. While the team faltered, his influence grew.
Now, he wants out.
The 25-year-old is pushing for a move this summer, unwilling to wait any longer for Chelsea to become realistic contenders for the Premier League and Champions League. The departure of Enzo Maresca, with whom he had forged a strong relationship, hit him hard and accelerated his desire to leave. According to reports, he has already instructed his agent to open channels with interested clubs.
Chelsea’s new head coach Xabi Alonso is determined to keep him and views Fernández as a cornerstone of any future success. The club’s stance is clear: they do not want to take a financial hit on a player they see as elite. His price has been set at around €120m (£104m), just shy of what they originally paid.
Arsenal join the pack – but with another name on top
Into this complicated picture step Arsenal. As per reports, the Gunners are monitoring the situation and have “joined the race” for Fernández, aware that prising him from a direct London rival would be a seismic move in the Premier League landscape.
Yet he is not Arteta’s first choice.
Inside Arsenal’s recruitment meetings, another midfielder sits above Fernández on the list: Sandro Tonali. The Newcastle United man, currently valued at around €100m (£87m), is understood to be Arteta’s priority target for the centre of the pitch.
Arsenal made initial contact with Tonali’s representatives in January and have kept a close eye on his situation ever since. The Italian is believed to be open to leaving Newcastle, with both Arsenal and Manchester United circling. For Arteta, Tonali’s profile – his blend of aggression, control and vertical passing – appears to fit the puzzle he is trying to complete in midfield.
That leaves Arsenal in a delicate balancing act. They are watching Fernández, ready to move if the opportunity becomes realistic, but their main push is directed elsewhere.
Madrid calling
Any club moving for Fernández must deal with more than Chelsea’s valuation. They must also beat Real Madrid to his signature.
Spanish reports this week indicated that Fernández would prefer a move to Madrid over Manchester City. During the March international break, he openly admitted he would like to live in the Spanish capital, likening it to Buenos Aires in terms of rhythm and feel. Those comments did not go unnoticed at the Bernabéu.
Inside Madrid, there is rare alignment. Jose Mourinho and club president Florentino Pérez are in agreement that the European champions need another elite midfielder to carry the next phase of their dominance. With City refusing to entertain any idea of parting with Rodri, attention has begun to swing towards Fernández as a more realistic, if expensive, solution.
For Madrid, who have made a habit of landing the game’s brightest stars at the peak of their powers, Fernández fits the pattern. For Arsenal, that is the scale of competition they are stepping into.
City’s stance and the price of a plan B
Manchester City are in the frame but, at this stage, not at full throttle. Fabrizio Romano has reported that Maresca “loves” Fernández, but has also cooled talk of active negotiations between City and Chelsea.
Inside the Etihad, the focus is currently elsewhere. Nottingham Forest’s Elliot Anderson is understood to be City’s top midfield target. Only if that move collapses could Fernández move up their list as a serious alternative.
Chelsea, meanwhile, sit on a valuable asset and a difficult decision. They know the market, they know the numbers, and they know that Madrid, City and now Arsenal are all looking for long-term midfield solutions. Letting a player of Fernández’s calibre leave for a rival – domestic or European – would sting, but keeping an unsettled star on a huge contract carries its own risks.
For Arsenal, the question is sharp. Do they go all-in on Tonali, the man Arteta has put at the top of his board, or pivot if the Fernández situation suddenly breaks in their favour?
The summer will reveal how bold they really are.
