Chelsea midfielder Enzo Fernandez continues to be at the centre of transfer speculation, but the latest reports suggest a move to Real Madrid this summer is becoming increasingly unlikely despite weeks of rumours linking him with the Spanish giants.
Fernandez has been heavily linked with a switch to the Santiago Bernabeu throughout the summer transfer window, with reports claiming the Argentina international had already agreed personal terms on a long-term contract with the La Liga side.
However, while there appears to be genuine interest from Real Madrid, completing a deal is proving to be far more complicated.
Real Madrid cool interest in Fernandez
Transfer expert Fabrizio Romano has dismissed suggestions that Chelsea are actively preparing for Fernandez’s departure.
Instead, the Blues are relaxed about the midfielder’s future unless a significant offer arrives.
Chelsea reportedly value Fernandez at around £120 million, a figure Real Madrid are currently unwilling or unable to meet.
Reports also say that sources close to the Spanish club believe a transfer is unlikely this summer, despite previous reports of personal terms being agreed until 2032.
The main obstacle is Real Madrid’s current squad planning. With much of their summer business already completed, the club would need to sell one or more midfielders before making a serious move for Fernandez.
Players including Federico Valverde and Aurelien Tchouameni have been mentioned as potential departures, although no concrete progress has been made on either front.
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Chelsea remain in control
Chelsea remain in a strong negotiating position, with Fernandez still under a long-term contract after joining from Benfica in a British-record deal worth £106.8 million in January 2023.
The London club are under no pressure to sell and would only consider letting the World Cup winner leave if their valuation is met.
Romano’s latest update suggests Chelsea have not changed that stance despite the ongoing speculation.
While reports continue to claim Fernandez is interested in joining Real Madrid, the transfer will depend on whether the Spanish giants can generate funds through player sales and decide to prioritise another major midfield signing.
For now, the deal remains on hold.
Unless Real Madrid significantly reshape their squad or submit an offer matching Chelsea’s demands, Fernandez looks increasingly likely to remain at Stamford Bridge for the 2026/27 season, with the Blues showing little desire to part ways with one of their most valuable players.
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