Chelsea have set a Friday deadline for clubs interested in Enzo Fernandez to submit offers worth at least £120m as uncertainty continues over the midfielder’s future at Stamford Bridge.

The Argentina international has been linked with a move away from Chelsea since March, when he reportedly opened the door to a potential transfer to Real Madrid. His agent, Javier Pastore, later claimed Fernandez was unhappy with his situation and wanted to leave following a difficult campaign.

Chelsea endured a disappointing season, finishing 10th in the Premier League and ending the campaign without silverware after losing the FA Cup final to Manchester City. Fernandez, however, remained an important part of the squad, making 54 appearances and recording 15 goals and seven assists.

Real Madrid have since indicated that they are not planning to pursue a deal for the 25-year-old, leaving Manchester City as the only known club showing potential interest. City have yet to indicate whether they are prepared to meet Chelsea’s £120m valuation and are also considering Lille midfielder Ayoub Bouaddi.

BBC Sport reported that Chelsea have set 5pm BST on Friday as the deadline for offers. The Blues are expected to maintain their valuation despite having paid £107m to sign Fernandez from Benfica in 2023.

Chelsea believe interested parties have had around two months to consider a deal and want the deadline to bring clarity before the new season gets fully underway. If no acceptable offer arrives, the club are prepared to keep Fernandez and reintegrate him into the squad.

New Chelsea manager Xabi Alonso has spoken with Fernandez about his future but has not disclosed details of their conversation. The midfielder returned to Chelsea training this week under Alonso, adding another layer to the growing expectation that his future will be settled soon.

Fernandez also featured for Argentina at the 2026 World Cup, where the defending champions reached the final before losing 1-0 to Spain. He was sent off during the match.

With Friday’s deadline approaching, Chelsea now face a straightforward choice: accept a £120m-plus offer or keep one of their most productive midfielders for the new season.