Arsenal Join Battle for Enzo Fernandez Amid Transfer Uncertainty

Arsenal have stepped into one of the summer’s biggest transfer battles, joining Manchester City and Real Madrid in the chase for Chelsea midfielder Enzo Fernandez – but he is not at the top of Mikel Arteta’s shopping list.

The London club are keeping tabs on the Argentina international’s situation as uncertainty deepens at Stamford Bridge. Chelsea shattered the British transfer record to sign Fernandez from Benfica for £107million in February 2023, and after an uneven start in England, he has grown into one of the few reliable pillars in a turbulent side.

Last season underlined that contrast. Chelsea slumped to 10th in the Premier League and lost the FA Cup final to City, yet Fernandez delivered a standout campaign individually: 15 goals and seven assists across 54 games, a remarkable return for a midfielder in a team still trying to work out what it wants to be.

He does not intend to wait around for the answer.

The 25-year-old is pushing for a move this summer, unwilling to spend more prime years outside the Premier League and Champions League title picture. The departure of head coach Enzo Maresca, with whom he had built a strong bond, hit him hard and only sharpened his desire to look elsewhere.

New Chelsea boss Xabi Alonso views Fernandez very differently. For Alonso, he is central to any rebuild, a cornerstone rather than a saleable asset. But the player has already instructed his agent to speak to interested clubs, and those clubs are heavyweight.

Arsenal ‘join the race’ – but Tonali comes first

According to CaughtOffside, Arsenal have formally joined the race for Fernandez and are “monitoring the situation”, ready to pounce if the door opens. A move across London would be explosive, a direct raid on a rival that has already spent heavily to close the gap to City.

Yet inside the Emirates, Fernandez is not the name at the very top of Arteta’s list.

That distinction belongs to Sandro Tonali.

The Newcastle United midfielder, currently valued at around €100m (£87m), is described as Arteta’s priority target for the middle of the park. Arsenal opened lines of communication with Tonali’s representatives in January and have kept them warm, with Manchester United also circling.

Tonali, for his part, is understood to be keen on a fresh start away from Newcastle. If Arsenal decide to move decisively, they know the price and the competition.

So Fernandez becomes the luxury option. The one you move for if the first plan collapses or the market suddenly breaks your way.

Madrid, City and a Madrid dream

Right now, Real Madrid and Manchester City sit closer to Fernandez than Arsenal do.

Reports in Spain this week indicated that Fernandez would prefer a move to Madrid over City, drawn to the city and the club’s aura. During the March international break, he openly admitted he would like to live in Madrid, likening the Spanish capital to Buenos Aires. That comment did not go unnoticed at Valdebebas.

Inside the Bernabeu hierarchy, there is rare unanimity. Jose Mourinho and president Florentino Perez agree that Madrid need another elite midfielder to carry the side through the next cycle. With City digging in over Rodri and showing no interest in letting their metronome go, Fernandez has emerged as one of the most realistic alternatives.

Chelsea, though, are not prepared to cut their losses.

They have set a price of around €120m (£104m), just under what they paid Benfica. No discount, no fire sale, no easy exit. Any club wanting Fernandez will have to treat him as one of the most expensive midfielders in the game.

City’s stance and a crowded market

Across Manchester, City’s position is more nuanced. Fabrizio Romano reported on Wednesday that Maresca “loves” Fernandez, a feeling that predates his move from Leicester to the Etihad. Yet City are not currently locked in talks with Chelsea over a deal.

Their focus lies elsewhere. Nottingham Forest’s Elliot Anderson remains City’s top midfield target. Only if that pursuit breaks down would Fernandez move into sharper view for the English champions.

That leaves a fascinating triangle. Madrid with the romantic pull and a clear need. City with the financial muscle and a long-term plan. Arsenal lurking, watching, weighing their options while they push harder for Tonali.

For Chelsea, the equation is brutal but simple. They either persuade Fernandez that Alonso’s project will deliver the trophies he craves, or they hold out for a fee that reflects his status and their own pride in the market.

The midfielder has already made it clear he is ready for the next step. The only question now is whose shirt he will be pulling on when the new season kicks off.