Chelsea have activated a clause in Enzo Fernandez’s contract to extend his stay at Stamford Bridge by a further year, according to reports.
The Blues signed the Argentina international for a British record fee of £106.8million from Benfica in January, and he has put in some impressive performances so far.
The extension will keep Fernandez at Stamford Bridge until 2032, after the midfielder penned an eight-year contract with Chelsea.
This is according to journalist Cesar Luis Merlo, who has confirmed Chelsea have activated the clause. This is most likely to help ease concerns that they could breach the Premier League’s Financial Fair Play (FFP) regulations.
Fernandez’s new deal will mean that his £106.8million fee is now only worth £11.25million-per-year plus wages for the Argentina international – a financial tactic that the Premier League are set to ban next season.
This has become particularly important given Chelsea are, in all likelihood, going to miss out on the Champions League next season, which will deliver a heavy blow to their revenue.
Lampard ‘doesn’t know’ about Fernandez extension
So far, Fernandez has made 13 appearances across all competitions for Chelsea, making two assists in the process.
At the age of 22, the Argentine is expected to only get better as he gains experience in the Premier League, so he should prove to be an excellent, albeit expensive long-term investment for the Blues.
Indeed, Fernandez has been one of the few positives in a disappointing season for the Blues, who currently sit in 11th place in the Premier League table.
Due to the team’s poor form they have now gone through three different managers this season.
Thomas Tuchel was dismissed by Todd Boehly at the start of the campaign, who was then replaced by Graham Potter, before he was sacked after less than seven months in charge.
Now, Frank Lampard has become Chelsea’s manager until the end of the season. However, he clearly isn’t being informed everything happening behind the scenes
When asked about Fernandez’s reported contract extension in a press conference on Friday, Lampard said: “I can’t confirm Enzo Fernández contract extension because I don’t know.”
Nevertheless, his new deal should mean that Chelsea have more financial wiggle room in the transfer window this summer, with Boehly already eyeing up a number of big-money signings.
For instance, Chelsea are reportedly keen to sign Manchester United target Victor Osimhen this summer – who has an astronomical price tag of €150m (£132.6m).
They certainly need to make new additions if they want to challenge for trophies again, so it’s no surprise that Boehly has extended Fernandez’s deal to smooth over FFP concerns.