Chelsea endured a turbulent 2025-26 campaign but still collected major silverware before beginning another significant rebuild under Xabi Alonso.
The Blues finished 10th in the Premier League after managerial changes involving Enzo Maresca, Liam Rosenior and interim boss Calum McFarlane.
Xabi Alonso arrived ahead of the new season and has overseen another busy summer transfer window at Stamford Bridge.
Chelsea added Morgan Rogers, Maxence Lacroix, Marco Palestra, Geovany Quenda, Valentin Barco and Jordan Henderson while also sanctioning several departures.
However, Enzo Fernandez has remained at the centre of transfer speculation because Manchester City continue exploring a move for the Argentina international.
City missed Chelsea’s deadline for written bids worth £120 million. So, they no longer have a straightforward route to complete the transfer.
According to The Telegraph, Chelsea now want more than £120 million for Enzo Fernandez if Manchester City try to sign him before the transfer window closes.
The Blues would also consider more favourable terms than previously offered if they decide to enter fresh negotiations with City.
Chelsea believe selling Fernandez during the final two weeks would make replacing him significantly harder. Also, it could increase the cost of their own targets.
Manchester City remain interested because new manager Enzo Maresca is a major admirer of Fernandez.
The Etihad club are also advancing talks for Ayyoub Bouaddi while preparing for Rodri’s move to Barcelona.
Fernandez returned as a substitute against Real Sociedad during Chelsea’s final pre-season friendly. However, some supporters booed him.
Despite that reaction, Chelsea remain optimistic they can reintegrate Fernandez if City do not submit an offer strong enough to test their resolve.
The club currently expect the midfielder to remain at Stamford Bridge for the 2026-27 campaign.
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