Chelsea have given Manchester City until 5pm this Friday to submit a formal bid for Enzo Fernandez, with the Blues making clear they have no intention of selling the midfielder unless their valuation is met.

City are understood to be keen on signing Fernandez, who forged a strong working relationship with Enzo Maresca during the Italian's tenure as Chelsea manager. That connection has reportedly fuelled City's interest in the Argentina international.

Chelsea have placed a £120 million price tag on Fernandez, who still has six years remaining on his contract at Stamford Bridge — a figure that underlines their reluctance to let him leave.

Should Manchester City fail to match Chelsea's asking price or allow Friday's deadline to pass without an offer, Chelsea are prepared to keep Fernandez beyond this transfer window.