Enzo Fernandez transfer news: Manchester City agree £125m deal to sign Chelsea midfielder on Deadline Day

The deal matches the British record transfer fee Liverpool paid for Newcastle striker Alexander Isak during last year's summer Deadline Day .

Chelsea will make a £18m profit on the midfielder they signed for £107m three and a half years ago.

Fernandez made it clear he wanted a move to City where he will be reunited with his former Chelsea boss Enzo Maresca. The player will now take a medical and finalise his move to City.

Chelsea are working to bring in a replacement for the Argentina international. They have been pursuing Roma's Manu Kone and Monaco's Lamine Camara as well as exploring potential Premier League midfielders.

The transfer window shuts at 11pm but clubs can submit deal sheets to give themselves an extra two hours to complete deals beyond the deadline.

Carragher: Man City now Arsenal's closest challengers

"Myself and plenty of others have felt Chelsea will have a really good season. And I still believe that a lot of that is on the back of not having European football, having a new manager, the front three that they've got.

"But they're losing Enzo Fernandez, who, for me has been one of the big players for Chelsea.

"Manchester City look a lot stronger now. I would say they're going to be the biggest challenges to Arsenal right now.

"It is a really good squad. There's no doubt about that. There's been a lot of turnover. Losing Rodri was a big thing and I thought it would be really difficult to recover from that.

But if you said at the end of last season, they would bring in Elliot Anderson and Enzo Fernandez, you'd say, that's a top midfield. They've paid top dollar for it, so it should be.

"That gives them the greatest chance of being the main challengers and maybe the only team who can really wrestle this title from Arsenal."

"Enzo Fernandez definitely wins. His agent wins because he's had two incredible moves.

"What Chelsea are trying to create is a culture and if a player doesn't want to be there, you've got to let them go.

"It feels that it might be the right thing to do. He wants to go work for his previous boss and you're going to get good money in. Some people will say to just keep him but if he doesn't want to be there, then it becomes very difficult.

"It leaves Chelsea a bit short in that area. Moises Caicedo looked like he picked up a knock the other day. Can you rely on Romeo Lavia? He is a top player but his injury record isn't great. Morgan Rogers and Cole Palmer aren't those types of player.

"If they don't get a player in, it won't look such a clever move.

"If they get a Manu Kone in, it will certainly soften the blow. But he will be a loss because he is a very good player. But for £120m, it will help balance the books and may look like a smart move in time."