Real Madrid publicly distanced themselves from a move for Fernández last month despite the Argentina international teasing a move to Los Blancos as he tried to forge a move away from West London.
City are in talks with Lille for Ayyoub Bouaddi who is set to replace Rodri who will join Madrid’s rivals Barcelona over the coming weeks. Despite this, the Premier League side are still chasing Fernandez as the clock ticks down.
Fabrizio Romano gave an update on the Fernandez situation on Friday morning, revealing that the Blues will not accept any offer lower than £120M.
“Crucial hours ahead for Enzo Fernández future as Chelsea insist they will not sell him after 5pm UK time today.
“Man City have been in regular contact with Enzo’s camp for days and in last 24h too.
“Chelsea also insist on £120m price.”
Last season Chelsea finished 10th in the Premier League and ended the campaign without a trophy after losing the FA Cup final to Manchester City.
Fernandez is keen to leave, but Chelsea do not intend to sell the midfielder in this window or the winter window unless their huge valuation is met.
City have already signed Elliot Anderson for around £116M from Nottingham Forest, making another huge deal unlikely but possible for the side who are also set to lose Tijjani Reijnders to Al-Qadsiah.