Manchester City have completed the signing of Enzo Fernández from Chelsea for £125m, equalling the British transfer record set by Liverpool when they signed Alexander Isak from Newcastle a year ago. The Argentina midfielder has signed a five-year deal at the Etihad Stadium, the club confirmed in a statement on Tuesday night.

The 25-year-old said: “Manchester City are the most successful club in England in recent times. Every player wants to be part of a club like this because everyone knows how well-run City are. I could not be happier to be here and I am ready for the challenge of helping City continue winning trophies. This is a club built for success.”

The transfer was completed on a dramatic final day of the summer window, during which City also signed Everton forward Iliman Ndiaye for up to £65m. Fernández’s arrival reunites him with City boss Enzo Maresca, who coached him during his time at Chelsea, and the pair are said to share a close relationship.

The move ends a turbulent period for Fernández at Stamford Bridge. He had been angling for a way out since March, when he spoke out after Chelsea’s Champions League exit to Paris Saint-Germain and was subsequently banned for two games. He was booed by Chelsea fans during a pre-season friendly against Real Sociedad, and was left out of the last two matchday squads by Chelsea boss Xabi Alonso, who said he only wanted players who had a “desire to play” for the club. Fernández had featured in Chelsea’s opening league game, coming off the bench in the win over Fulham, but was omitted from the following two fixtures. Chelsea felt he had not shown himself to be vice-captain material.

Fernández joined Chelsea from Benfica in January 2023 for a then-British record fee of £106.8m, scoring 31 goals during his three-and-a-half years at the club. Chelsea’s unofficial deadline for bids of £120m passed last month, but the Blues were always open to a deal beyond that cut-off, according to reports, provided the offer reflected rising summer market valuations.

The deal means City have spent £327m on midfielders this summer, following the arrivals of Elliot Anderson from Nottingham Forest for £116m and Ayyoub Bouaddi from Lille for £86m. City have also sold Rodri to Barcelona, Bernardo Silva to Real Madrid, and Nico González to Newcastle, while Jack Grealish has been loaned to Everton for a second successive season.

Chelsea’s frustration on deadline day centred on their failure to find a replacement for Fernández. The club agreed a £47m fee with Monaco for midfielder Lamine Camara, who was set to sign a six-year contract with the option of an extra year. Chelsea had earlier had a £38.1m offer for the 22-year-old Senegal international rejected, but revived their interest after Everton’s attempts to sign USA striker Folarin Balogun ran into difficulties, leaving Monaco needing to raise funds. However, Monaco pulled out of the deal despite a written agreement, a move described by sources as “deeply unprofessional”. Everton, who had refused to give up on Balogun, renegotiated the fee and submitted a deal sheet for his signature.

The collapse of the Camara deal did not lead to Chelsea cancelling the sale of Fernández. The club have made around £500m in loans and sales this summer, including the sale of Marc Guiu to RB Leipzig for £16m and loan moves for Dario Essugo to Strasbourg, Robert Sánchez to Como, and Mykhailo Mudryk to Tottenham. Tosin Adarabioyo also joined Spurs on a permanent deal.