Manchester City have agreed a £125 million deal with Chelsea for midfielder Enzo Fernandez.
The fee matches the British transfer record set when Liverpool signed Alexander Isak for £125 million last summer.
Fernandez joined Chelsea from Benfica in 2023 for a then-British record fee of £107 million.
Manchester City and Chelsea reached an agreement following negotiations between the two clubs over the past 24 hours.
The Argentine midfielder is now expected to undergo a medical before signing a long-term contract with Manchester City.
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Personal terms are not expected to be an issue as the transfer moves closer to completion.
