Chelsea has reportedly renewed Enzo Fernandez’s contract, despite the player having only joined the club in January.
The Premier League side spent a record £106.8 million during the winter transfer window to acquire the midfielder from Benfica.
Sources suggest that the 22-year-old signed an eight-year deal with Chelsea, which will keep him at Stamford Bridge until 2031.
According to TyC Sports journalist Cesar Luis Merlo, Chelsea have now decided to extend Fernandez’s deal for an extra year.
Many were surprised by Chelsea’s decision to renew Enzo Fernandez’s contract so soon after signing him.
However, this move could turn out to be a stroke of genius. By extending the midfielder’s contract, Chelsea can now amortize the transfer fee of £106.8 million over the duration of his eight-year deal, resulting in an annual cost of approximately £11.25 million, in addition to his wages.
This slight reduction in payments could aid Chelsea in complying with the strict regulations of Financial Fair Play, as the cost of the transfer fee will be spread out over the length of the player’s contract
Journalist David Ornstein has explained how Chelsea can register a profit with just one player sale.
He said on BBC’s Football Daily podcast: “If Chelsea were to sell a homegrown player for £40million for example, it’s immediate profit on the books as Chelsea haven’t paid a transfer fee for him.
“Mudryk for example is an outlay of £8 million on books. Chelsea could end this window in profit if a homegrown player was sold.”
Chelsea are heading into yet another busy transfer window in the summer as they look to balance the books.
It has been reported that as many as nine first-team players could be moved on, including the likes of Mason Mount, Christian Pulisic and Ruben Loftus Cheek.
The Blues will be back in Premier League action this weekend as they take on Brighton and Hove Albion on Saturday.