Manchester City have reached an agreement with Chelsea to acquire midfielder Enzo Fernandez in a £125 million deal on Deadline Day.

Fernandez arrived at Chelsea from Benfica in 2023 for £107 million. The Argentine featured in Chelsea's opening Premier League fixture of the season against Fulham, though he was absent for the Carabao Cup clash with Luton and was again left out of the squad to face Brighton.

Redknapp's verdict: a blow for Chelsea

Sky Sports pundit Jamie Redknapp believes the deal represents a significant loss for Chelsea, despite the financial return. "Enzo Fernandez definitely wins. His agent wins because he's had two incredible moves," Redknapp said.

Redknapp acknowledged that Chelsea's approach had a certain logic. "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," he said. "He wants to go work for his previous boss and you're going to get good money in."

However, he flagged concern over Chelsea's midfield depth after the departure. With Moises Caicedo nursing a knock and questions surrounding Romeo Lavia's injury record, Redknapp pointed out that Cole Palmer and Morgan Rogers are not natural fits in those deeper midfield roles.

"If they don't get a player in, it won't look such a clever move," Redknapp warned. He suggested that landing a player of the calibre of Manu Kone could soften the blow, adding that the £125 million fee — which he rounded to £120 million — could ultimately help Chelsea balance their books and may prove shrewd in the long run.