Chelsea are still looking to do business before the January transfer window shuts and a midfielder is high on their list of priorities. Moises Caicedo has been linked from Brighton, but the name that will not go away is Enzo Fernandez.
The midfielder, who won the World Cup with Argentina in the summer, is the subject of huge interest from Chelsea, but it will cost the Blues, with Fernandez having a £105million release clause at Benfica. That is a figure the Blues have been unwilling to match thus far.
But, with two and a bit days of the transfer window to go, will Chelsea buckle and make the big-money offer? His future has been one of the biggest talking points of the winter window. It has been an on-off again saga and, with just a couple days of the window remaining, will he be moving to Stamford Bridge?
READ MORE: Chelsea given Enzo Fernandez transfer update by Benfica coach after talks restart
Noni Madueke, David Datro Fofana, Mykhailo Mudryk, Benoit Badiashile, Andrey Santos, Joao Felix and Malo Gusto have all already arrived at Stamford Bridge in recent weeks but Graham Potter's side is still light in midfield.
Jorginho and N'Golo Kante are both out of contract at the end of the current campaign and the latter hasn't played due to injury since August, making Fernandez the perfect target for the west London club. With that being said, football.london brings you up to speed with the latest on the Argentine's potential move to Stamford Bridge.
Fresh talks
football.london understands that Chelsea are holding fresh talks with Benfica over a deal on Monday morning (January 31) and are confident that an agreement can be reached. The Blues are willing to pay the entire £106m release clause but still have to iron out the way in which it will be structured.
Benfica want the entire total in full but Todd Boehly and Co. have held out for instalments and are now growing in the certainty that a compromise and a deal will be found.
New structure
As with the first round of talks earlier this month, Chelsea and Benfica remain apart when it comes to the structure of the deal. Whereas the Blues were willing to offer more than his release clause over a number of installments, it's demanded that they pay a large sum up front.
That is believed to be the entire £105m from Benfica's side but the Blues would be willing to stretch to £80m at this stage according to reports.
Full focus
Fabrizio Romano has written that Chelsea have turned their attention away from Moises Caicedo at this late stage in order to pursue Enzo Fernandez with their full focus, scheduling in new talks for Monday, January 30. These are set to be absolutely vital in the outcome of the deal.
He writes: "Chelsea have scheduled new round of talks for Enzo Fernández on Monday. Full focus on getting it done, player side won’t be an issue. Todd Boehly, Behdad Eghbali and the board are on it — Chelsea will reach €120m, depends on Rui Costa."
New deadline
Chelsea may well be under some pressure to complete a deal in rapid time with Benfica in action on deadline day, kicking off just hours before the window slams shut. With negotiations unlikely to be possible during that time and Fernandez a shoe-in to play it speeds up the urgency needed.
It means that both parties would favour a deal being agreed on Monday, should that happen.
Request to leave
According to CBS journalist Ben Jacobs, Fernandez has stressed in 'strong terms' to both president Rui Costa and head coach Roger Schmidt that he wants to leave. The report states that the Benfica board is divided about accepting a structured deal.
Fresh release clause plan
Chelsea were unable to meet Benfica's demands earlier in the window of Enzo Fernandez's £106million release clause and now the Portuguese club are continuing to try and tempt off interest from west London.
According to Portuguese newspaper Record, Benfica are hoping to increase Fernandez’s release clause to €150m (£132m).
Benfica expectation
Chelsea could return to try and sign Benfica star Enzo Fernandez before the end of the January transfer window and that is the expectation in Portugal.
Benfica are expecting the Blues to come back with another offer for Fernandez ahead of transfer deadline day on Tuesday, according to Record.
Summer incentive
Chelsea have been offered an incentive themselves to get a deal across the line this month. With European giants waiting to pounce should nothing happen in the rest of January the Blues may lose their free run if they wait.
According to CBS reporter Ben Jacobs things would be very different in the summer. He tweeted: "If nothing dramatic happens in January, there will definitely be an open race for him come summer. Chelsea, Liverpool and even Real potentially. Completely different negotiation in four months."
Players plus cash
Chelsea have not given up hope of tempting Fernandez to west London this January. And they are ready to make a players plus cash offer to sign him.
There has been a reluctance to meet the £105million release clause, but Chelsea could offer a couple of players to Benfica, plus cash, to complete the deal this month. That's according to Record, via Sport Witness.
Fernandez's incentive to stay
After hearing of Chelsea's interest, Enzo Fernandez was set on a January switch to Stamford Bridge, however with Benfica standing firm on their stance he would only depart if the release clause was paid, the Blues moved on.
Because of how things played out, Fernandez will now receive €2million (£1.76m) from Benfica as compensation for his aborted transfer to Chelsea, according to Record.
Schmidt admission
Benfica manager Roger Schmidt has admitted that he believes Fernandez will remain with the Portuguese giants this month, although Chelsea may return with another proposal for the talented youngster in the coming days. Speaking on Wednesday, Schmidt said: "Yes, of course [I'm confident Enzo stays].
"I think when you see Enzo playing at the moment for Benfica, I see a player who is on his top level, who is very happy to play for the club and I think there is nothing else in the mindset of the player.
"I don't expect that we lose any of our players who are playing a lot and who are in the starting XI. That's why I see very focused players and that's why I expect that he stays."
Read more here.
UEFA deadline
Chelsea may have been handed a new incentive to sign Enzo Fernandez this month as UEFA have decided to put a cap on contract length up to five-years, reports the Times. The Blues have been routinely offering larger length deals to help spread the cost of large transfer fees since the new ownership took charge.
This decision won't take place until the summer, meaning the club have plenty of reason to make a move for Fernandez while the loophole still exists and the cost can be spread.
Fresh raid
Reports from Portuguese outlet Record have claimed Chelsea are preparing a new raid for the Benfica man before the end of the January window. However, like earlier this month, Benfica are not likely to budge on their stance on the midfielder meaning an additional £105m will have to be spent.
The new bid is reported to be for around £88million, which could tempt Benfica into selling.
Offer prepared
Chelsea are expected to approach Benfica with another proposal for Enzo Fernandez before the transfer window closes, football.london understands.
The Blues made the Argentine midfielder a priority target before the January transfer window opened and held several rounds of talks with Benfica over a deal. However, the Portuguese side stood firm on their £105million valuation, a figure Chelsea were ultimately not prepared to meet.
Caicedo preference
After seeing their opening bid of £55million for Brighton's Moises Caicedo rejected last week, Chelsea are said to be considering an improved offer in the region of £65m.
Caicedo has been identified as an alternative to Fernandez this month and possesses experience in the Premier League with his impressive displays for the Seagulls. However, similar to Fernandez, there's plenty to do in completing the deal.
Swap deal
Benfica has maintained from the start that Fernandez's £106million release clause be met for a transfer to be completed. Chelsea have remained reluctant to do that, although they have offered instalments in an offer for the Argentinian.
And it has been reported that players have been used as part of the bargaining chip to get the deal done. Hakim Ziyech has been offered as a permanent swap deal, with January arrivals David Datro Fofana and Andrey Santos joining Benfica on loan as part of the deal too.
Benfica though grew unhappy with Chelsea’s attempts to spread the cost of the deal, instead wanting to receive it all at once, thus resulting in the Blues moving on to other transfer targets leaving Fernandez, who had pushed for a move away, looking likely to remain in Portugal.
Schmidt claim
Benfica manager Roger Schmidt has once again been discussing the future of Fernandez after talks collapsed over his proposed move to Chelsea, admitting he believes the deal is "closed".
"I already said that, this question is closed. He's (Enzo Fernandez) one of our players. He's happy, training well, he's part of the team. Everything has been said."
Roger Schmidt responds
Ahead of Benfica's 1-0 win over Portimonense Benfica head coach Roger Schmidt was bullish when asked about his star player, firing back at Chelsea's approach, he said: "We do not want to sell Enzo. Not me, not the president, nobody. We know, everyone knows he has a clause in the contract and if the player wants to leave and someone comes and pays the clause of course we cannot work against that. Then maybe we will lose the player.
"There is a club who want our player. They know we don’t want to sell the player. They tried to get the player on their side and they know they can only get this player when they pay the clause. It is a very clear situation. What the club is doing, it is disrespectful against all of us, against Benfica and I cannot accept what they are doing.
‘"So to make the player crazy, and then to pretend they can pay the clause and then later they want to negotiate, it is not what I understands to be good relationship between clubs who want to discuss players."
Talks 'collapse' as Benfica insist on £105m release clause
The 21-year-old was a standout performer at the World Cup - winning the tournament's Young Player Award after Lionel Messi and his teammates beat France to win become world champions. The latest reports suggest that Fernandez's dream move to the Premier League has 'collapsed' with Benfica insisting that Chelsea must pay his release clause or there will be no deal.
According to Fabrizio Romano, the Blues have not scheduled a new meeting with the Lisbon-based side after talks over a deal structured with three instalment payments collapsed. Chelsea are said to have officially bid £75million for the 21-year-old, a fee that falls well below Fernandez's release clause.
Pay structure revealed with deal at 'advanced stage'
Chelsea and Benfica agreed the exact structure of the transfer of Enzo Fernandez on Monday, as first revealed by Felix Johnston. The Portuguese club could receive up to €130million (£114million) for their midfield star, with €120million (£105.9m) arriving across three equal instalments, with the remaining €10million (£8.8million) available as performance-related add-ons.
Gianluca Di Marzio supported this claim, revealing the deal is at an 'advanced stage' and the final details are the only thing left to be sorted.
Chelsea signal intent
It is reported in Portugal and via several UK journalists that Chelsea have stepped up their interest in Fernandez ahead of the January window.
Simon Phillips writes: "Chelsea have ‘started the groundwork’ to sign Enzo Fernandez. We’ve spoken to his agent regarding a move & registered our official interest."
O Jogo write that Rui Costa, Benfica club president and Rui Pedro Braz, sporting director, have begun looking for a replacement for the player, lining up Carlos Alvarez from Racing.
It is also written in CMTV that Chelsea representatives have recently travelled to Lisbon to negotiate a deal and to formalise their interest.
Liverpool interest
Liverpool are one of a number of clubs interested in signing the midfielder and according to Diario Record, one club has made a €100million (£87.9million) bid for him.
The report states that it was rejected, with the Portuguese side holding out for €120million (£105.5million) but Liverpool are said to have not been the team making the move.
Manchester United, Real Madrid and Manchester City are also said to be in the mix to the sign the former River Plate star.
Release clause
According to Portuguese outlet Record, the youngster has a €120million (£106.2million) release clause having only joined from River Plate in the summer and will only leave Benfica in January should a club meet that figure.
Fernandez only joined Benfica over the summer, moving from home country Argentina for just £10million. No matter when or where he goes next the Portuguese side are likely to make a massive return on their investment.
Understandably they are keen on keeping him until the end of the season rather than selling midway through a campaign.
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