Chelsea are ready to make Benfica midfielder Enzo Fernandez the most expensive signing in the history of the Premier League.

The Blues are locked into negotiations with the Portuguese side over the structure of a club-record deal of £112 million to sign the Argentine.

If completed, it would make Fernandez the most expensive signing in Chelsea’s history, surpassing Romelu Lukaku’s move from Inter Milan in the summer of 2021.

The midfielder would also become the fourth most expensive transfer in history and Benfica’s biggest-ever sale.

The 21-year-old is believed to have agreed on personal terms with Chelsea.

Fernandez even failed to show up for Benfica training to force a move to Stamford Bridge.

Chelsea want to pay the transfer fee in three installments of £37.5 million as they strive to stay in line with UEFA financial fair play rules, as they are among four Premier League clubs on a UEFA financial watch list.