Manchester City Eyes Enzo Fernández, Ready to Smash Its Own Transfer Record Before Premier League Deadline

The transfer window closes in a matter of hours, and the Premier League looks determined to keep the checkbook open until the final minute. Once the deadline hits at 11 p.m. BST / 6 p.m. ET on September 1, total spending by English clubs could top £2.5 billion ($3.386 billion), a staggering figure though still short of the £3.1 billion ($4.2 billion) spent last summer. And at the heart of it all are two names already synonymous with the 2026 World Cup: Enzo Fernández and Julián Álvarez.

City wants to break its own record

Manchester City remains in pursuit of Enzo Fernández, and the deal is shaping up to be expensive. The Argentine midfielder already set a Premier League record when he joined Chelsea from Benfica for $144.18 million in January 2023, and he could break that mark again. Chelsea has no intention of giving up its captain cheaply, and sources close to the negotiations say the Blues are asking for a fee that would push City past the $168.75 million Liverpool paid for Alexander Isak just a year ago.

City has already shown a willingness to overpay this summer, spending $156.60 million on Elliot Anderson from Nottingham Forest and, just days ago, wrapping up a deal for Ayyoub Bouaddi, the breakout Moroccan star of the last World Cup, for $116.10 million from Lille. If Enzo leaves Stamford Bridge, Xabi Alonso already has a replacement in mind: Lamine Camara of AS Monaco, valued at $54 million.

City isn't stopping at one signing, either. The club continues to negotiate with Liverpool over Cody Gakpo, in a deal worth close to $114.75 million, made easier by the fact that the Reds have already committed $166.05 million to sign Bradley Barcola from PSG. If Gakpo arrives at the Etihad, Jack Grealish could go out on loan, with Everton or Aston Villa, both former clubs of his, as possible destinations.

Moyes pushes, Everton moves

David Moyes asked Everton's board for reinforcements last week, and the message seems to have landed. The Toffees are close to bringing Richarlison back from Tottenham, while Iliman Ndiaye would make the reverse move to Spurs, in two separate deals. Moyes also wants Folarin Balogun, the United States international forward, though he first needs to sell Beto to raise the $43.20 million Monaco is asking for.

Julián Álvarez, the toughest target

Strikers tend to dominate deadline day because no club wants to start the season without a reliable source of goals. But convincing Atlético Madrid to sell Julián Álvarez won't be easy for Arsenal. Mikel Arteta has been chasing him since the start of last season, and the Colchoneros are standing firm: the forward will not get his wish to move to Barcelona.

Álvarez returned to training with Diego Simeone's squad over the weekend after a dispute with the club over his future, suggesting he may have accepted staying put. There is, however, one variable that could change everything: Atlético could be open to selling Álvarez to Arsenal if Viktor Gyökeres moves in the opposite direction.

If that deal comes together, Arsenal would have to do some math. The club has already spent $101.25 million on Bruno Guimarães and $68.85 million on Ezri Konsa this summer, so a surprise departure can't be ruled out: Myles Lewis-Skelly. Arteta made clear earlier this month that the 19 year old wasn't going anywhere, but club CEO Richard Garlick left the door slightly open:

"We might be forced to consider offers if the right opportunity comes along."Richard Garlick

Two Mexicans already have their futures sorted

Santiago Giménez has his move all but finalized: AC Milan and Porto have agreed to a loan with a purchase option worth close to 18 million euros, which would become mandatory if he hits certain targets. The Mexican forward has already traveled to Portugal for his medical.

The other case that's been settled is Erik Lira's: Monaco reached an agreement with Cruz Azul for the midfielder, a deal that came together in part because of Everton's interest in Balogun, which cleared the way for Monaco to push through the signing.

What else is moving

Chelsea and Manchester United are keeping an eye on Lewis-Skelly in case Arsenal opens the door to negotiations, though everything suggests he'll stay at the Emirates. United also inquired about Newcastle's Lewis Hall to strengthen the left back spot, but he's expected to remain at St James' Park. With $199.80 million already committed to Andrey Santos, Youri Tielemans, Carlos Baleba and goalkeeper Karl Darlow, United should have a quiet finish to the window barring a surprise at that position. Joshua Zirkzee, on the other hand, could head out on loan, with Juventus and Fiorentina both interested.

Fenerbahce is still chasing Marcus Rashford, but Michael Carrick has brought him back into the fold following loan spells at Barcelona and Aston Villa, so only a very high offer would pry him away from Old Trafford. At Tottenham, Roberto De Zerbi is working on outgoing deals for Kevin Danso (in talks with Sunderland), Richarlison (headed to Everton) and Pape Matar Sarr (negotiating with Juventus). If those exits close in time, Spurs could make a move for Gakpo if City fails to strike a deal with Liverpool, or even for Christian Pulisic of Milan.

With the clock running down, everything points to Enzo Fernández ending up in blue by this Tuesday. Julián Álvarez's situation is far less certain, but on the final day of the transfer window, nothing can be fully ruled out.