Chelsea transfer news: Major Enzo Fernandez update as Man City 'make offer' for Argentina star

Manchester City have reportedly made a €120m (£102.53m) offer for Chelsea midfielder Enzo Fernandez.

Earlier this week, it was claimed that Chelsea had set Man City a deadline of 5pm on Friday to make a formal bid for the Argentina star.

With Real Madrid having shown no interest in signing him this summer, Fernandez is effectively left with the choice of remaining at Chelsea or waiting on Man City to make an effort to sign him.

Widespread reports have indicated that Chelsea have set Fernandez's asking price at £120m.

While not meeting that demand, journalist Cesar Luis Merlo reports that Man City have made an official offer.

Man City make official Fernandez offer

The report claims that Man City have listened to Chelsea's terms and delivered an opening bid.

Enzo Maresca - who worked with Fernandez during his time as Chelsea boss - is said to want to sign the 25-year-old at all costs.

At this point in time, Chelsea are yet to respond to Man City's offer, the assumption being that it will be rejected.

Nevertheless, the fact that Man City are already willing to pay over nine figures for Fernandez suggests that they will be prepared to go higher should the first proposal be shunned by BlueCo.

Man City are currently in the process of handling the future of Rodri, who could leave for Barcelona.

Meanwhile, Tijjani Reijnders allegedly has interest from a Saudi Pro League club who are willing to pay over £50m for the Netherlands international.

Will BlueCo compromise over Fernandez?

If Fernandez genuinely wishes to leave Chelsea and wants to reunite with Maresca, it will be very hard for BlueCo to reject over £100m for a player not committed to the club in the long term.

Chelsea only need to receive between £75m and £80m to make a profit from an amortisation perspective.

That would, in turn, give Chelsea chance to buy a suitable replacement for Fernandez, who has not formed a consistently-effective partnership with Moises Caicedo.

While there will naturally be haggling from both sides, this transfer saga could reach a positive conclusion for all parties if Chelsea's owners are sensible over their demands.