Chelsea transfer news: Real Madrid have 'powerful' £125m Enzo Fernandez problem but Xabi Alonso could have swap opportunity

Real Madrid would be prepared to offer Aurelien Tchouameni or Eduardo Camavinga in any deal to sign Enzo Fernandez from Chelsea, the latest report has claimed.

Blues fans will be delighted that the 2025-26 Premier League has ended given they endured yet another disastrous campaign, watching the team finished 10th.

Star players are unlikely to be satisfied by another season without European football, and boss Xabi Alonso will hope to avoid losing key members of his squad before the start of 2026-27.

Midfielder Enzo Fernandez is thought to be open to a move away, and one of the most interested parties is said to be Real Madrid.

However, TEAMtalk claim that Chelsea value the Argentine in the region of £125m, but while Real would not be able to afford such a fee, they would be willing to offer either Aurelien Tchouameni or Eduardo Camavinga to help offset the cost of a deal.

The report also states that young stars Jacobo Ramon and Chema Andres are both admired by those at Stamford Bridge, but Real would be reluctant to lose either.

Does Xabi Alonso need Aurelien Tchouameni or Eduardo Camavinga?

Alonso could look to field a double pivot at Stamford Bridge in 2026-27, so there would be room on paper for either of Aurelien Tchouameni and Eduardo Camavinga.

Their stylistic fit next to Moises Caicedo is less clear considering both are arguably better in deeper areas, and their addition could force the 24-year-old to play in unfamiliar areas.

It would be surprising if Chelsea looked to offload Caicedo given the Ecuadorian is contracted through to 2033, but if fellow midfielder Fernandez did leave in the summer, finding a suitable partner for the former should be seen as a priority.

The 24-year-old is an excellent ball winner, much like the two Real midfielders, so pairing him with someone with progressive qualities in a double pivot would almost certainly improve the team considerably.

Enzo Fernandez to Real Madrid: The Toni Kroos replacement?

Chelsea have opted to station Fernandez in more advanced zones, but he made his name at Benfica playing in deeper areas of the pitch where he could use his passing range to dictate the tempo of matches.

Real have lacked a ranged passer since the retirement of Toni Kroos in 2024, and though Trent Alexander-Arnold possesses similar passing qualities, his debut season at the Bernabeu was heavily disrupted by poor form and injury issues.

Fernandez could be the direct replacement for the legendary Real Madrid midfielder, but only if they use him in different areas than Chelsea have, as his impact may otherwise be limited.