Xabi Alonso and Real Madrid have been repeatedly linked with a move for Chelsea star Enzo Fernandez, who’s become a vital cog in the Blues’ system, and it is now reported that Enzo Maresca’s side could green-light his exit to the Bernabeu.
When Chelsea splashed out a then-British record fee of roughly £107 million to sign from Benfica in January 2023, the expectations were sky-high.
Signed with the intent of being a midfield leader, a creative spark, and a metronome in possession-heavy games, the Argentine arrived amid fanfare — but early returns were mixed to say the least.
Fernandez attracted serious criticism over his first year and a half at Stamford Bridge for his inconsistent performances on the pitch, and was at the centre of a racism scandal during the summer of 2024, after the midfielder uploaded a video of Argentine international teammates singing a controversial song about French players.
Fast-forward to now, and the 24-year-old has worked his way to being a crucial star under Maresca, as Fernandez begins to justify his mammoth price tag from over two years ago.
Last season, Fernandez finished the campaign as Chelsea’s third-best performer by average match rating according to WhoScored – behind only Moises Caicedo and Cole Palmer – whilst scoring six goals and registering a further seven assists in a more advanced midfield role.
Cole Palmer
7.33
Moises Caicedo
7.02
Enzo Fernández
6.95
Nicolas Jackson
6.88
Noni Madueke
6.82
via WhoScored
Maresca also made Fernandez captain last season, a decision which was seen as controversial at the time, but the midfielder is repaying faith by enjoying a stellar last 12 months on the field.
His goals against Tottenham, Aston Villa and Liverpool were only overshadowed by a match-winning performance against Real Betis in May’s Conference League final, with Fernandez shining at the Club World Cup too.
Thus far, the South American has kickstarted 2025/2026 with real aplomb — notching a goal and assist in Chelsea’s 2-0 London derby win over Fulham whilst also getting on the scoresheet against West Ham.
Fernandez looks like a completely different player since Maresca took charge in the summer of 2024, and his form is attracting serious interest from Real.
Chelsea ready to let Enzo Fernandez join Real Madrid on three key conditions
Now, according to Defensa Central, it is believed that Chelsea could actually be ready to let Fernandez join Los Blancos — but on three key conditions.
Firstly, the player must openly request a move to Spain. Secondly, Real must include midfielder Eduardo Camavinga — a player they’re seriously targeting for 2026 — in a part-exchange deal.
Thirdly, Real must offer ‘at least’ an extra £44 million alongside Camavinga — so it appears Florentino Perez knows exactly what is required to tempt Chelsea’s rejuvenated star with a move to La Liga.
Chelsea must not sell Enzo Fernandez to Real Madrid
Selling Fernandez to Real would be a huge mistake for Chelsea.
The in-form ace has become one of the heartbeats of Maresca’s midfield, and after a rocky start to life in England, he now looks like the player BlueCo invested over £100m in.
“Enzo is another top player, a world-class one,” former Chelsea defender David Luiz said.
“Sometimes when collective results are good, then everybody judges individual performances in a different way. Enzo is fantastic and at Chelsea he has many examples to follow to continue to improve.”
Fernandez is entering his prime years. Letting him leave now would not only rob Chelsea of a midfield general but also undermine the long-term project built around youth and elite potential.
In terms of Camavinga as a replacement, the Frenchman missed large portions of 24/25 through injury in what was a difficult campaign for him, so this potential swap would be a very risky one to say the least.