Chelsea and Manchester City have allegedly agreed a £125m fee for Enzo Fernandez.
Throughout the summer transfer window, there has been speculation over the future of the Argentina international, who has made no secret that he sees his future elsewhere.
However, Chelsea have retained a stance of wanting to generating at least £120m for the 25-year-old, who has a long-term contract at Stamford Bridge.
Even when a self-imposed deadline set by the Blues had passed, there remained the expectation that a deal would eventually be agreed.
As per The Athletic's David Ornstein, Man City have finally made the breakthrough in negotiations with their BlueCo counterparts.
What are the terms of Fernandez transfer to Manchester City?
The report does not specify the exact structure of the proposal that has been accepted by Chelsea.
Nevertheless, it is claimed that Man City are equalling the British transfer record, currently set by Liverpool when signing Alexander Isak from Newcastle United at the end of the 2025 summer window.
Fernandez has been provided with permission to undergo a medical with Man City ahead of the expected completion of the move later on Tuesday.
Should the transfer be finalised, Fernandez will be joining an array of talent for Man City's engine room, competing alongside Elliot Anderson, new signing Ayyoub Bouaddi, Mateo Kovacic, and other players such as Nico O'Reilly and Marc Guehi who are viewed as options in that area of the pitch.
A total of 31 goals and 30 assists have been contributed by Fernandez across 170 appearances for Chelsea, while he has also lifted a Conference League trophy and Club World Cup crown during his three-and-a-half-year stint at Stamford Bridge.
Who will Chelsea sign as Fernandez replacement?
During Tuesday, Chelsea have been heavily linked with Roma's Manu Kone and Monaco's Lamine Camara.
Roma boss Gian Piero Gasperini has allegedly blocked the departure of Kone, while Chelsea are yet to agree terms for Camara with Monaco not keen on a sale.
Arsenal's Martin Zubimendi remains a player on Chelsea's shortlist, yet tempting the Gunners into a sale at this stage of the summer transfer window feels unlikely.