Chelsea have reportedly given Manchester City until 5pm on Friday to submit a £120m offer for midfielder Enzo Fernandez or abandon their interest in the Argentina international this summer.
City are keen on Fernandez, who previously enjoyed a strong relationship with former Chelsea manager Enzo Maresca.
However, Chelsea are standing firm on their valuation of the 25-year-old, who still has six years remaining on his contract at Stamford Bridge.
The London club have made it clear that Fernandez will not be sold during the current transfer window if City fail to meet their £120m asking price.
Manchester City’s interest has intensified following Barcelona’s pursuit of Rodri. The Spanish club have already had a £40m bid for the midfielder rejected, raising the possibility that City could make a late move for Fernandez if Rodri leaves.
City, meanwhile, are understood to have alternatives in mind should they lose any of their midfielders and remain in talks with Lille over Morocco international Ayyoub Bouaddi.
The Premier League champions have already strengthened their midfield this summer with the £116m signing of Elliot Anderson from Nottingham Forest.
Chelsea’s £120m valuation would represent a significant increase on the fee they paid to sign Fernandez from Benfica in January 2023, with the midfielder arriving for around £107m.
The transfer window is scheduled to close on Tuesday, September 1.
Relations between Chelsea and City have also been strained by the circumstances surrounding Maresca’s departure from Stamford Bridge.
City paid Chelsea £17m in compensation to appoint Maresca this summer after he resigned with three-and-a-half years remaining on his contract. He had been approached about potentially succeeding Pep Guardiola last autumn.
Chelsea are understood to have imposed the Friday deadline in an attempt to avoid a prolonged transfer saga and ensure new manager Xabi Alonso and his squad can concentrate on preparations for the new season.
The club reportedly believes interested teams have had almost two months to make an approach for Fernandez and does not want uncertainty over his future to disrupt the squad.
Fernandez’s future had previously come under scrutiny in April when he was left out of Chelsea’s squad for two matches after admitting that he would welcome the prospect of living in Madrid.
The midfielder and his agent later apologized for the comments, which came amid discussions over improved terms at Chelsea.
Insightlinks Sport Arena gathered that Real Madrid have also been linked with Fernandez but issued a statement earlier this summer denying plans to make a move for the midfielder.