Chelsea shells out big amount for Fernandez

London, February 1

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Chelsea completed another staggering spending spree by its new American ownership — more than $350 million this time — by signing Argentina midfielder Enzo Fernandez for a British-record fee on the final day of the January transfer window.

A day of negotiations between Benfica and Chelsea’s co-owners ended with the Premier League club agreeing to pay the release clause of £106.7 million ($131.4 million) in the 22-year-old World Cup winner’s contract. The Portuguese club announced the transfer in a statement early today. The fee eclipsed the £100 million (then $139 million) Manchester City paid Aston Villa for England international Jack Grealish in 2021.

Chelsea has spent more this month than every club in the top leagues in Spain, Italy, Germany and France combined. And following a big outlay in Europe’s summer transfer window, Chelsea has splashed out around $630 million in the first two windows overseen by the new ownership — fronted by Todd Boehly — since the purchase of the club for $2.5 billion in May. Chelsea signed eight players in January and handed most of them long contracts — as much as eight-and-a-half years for Fernandez, for example — to allow the club to spread the cost of the signings over the length of the deals. — AP