Chelsea are aiming to continue their record-breaking season of transfer spending after submitting a bid of £115 million ($141.8m) for Benfica's World Cup-winning midfielder Enzo Fernandez, according to several reports.
Fernandez has been a top target for the Premier League club throughout the January transfer window, although earlier talks broke down after Benfica accused Chelsea of failing to stick to their word over matching the Argentine's €120m ($130.1m) buyout clause.
However, with less than two days until deadline, Chelsea reportedly lodged an offer that would eclipse the British transfer record of Jack Grealish's £100m move from Aston Villa to Manchester City. The reported package of £115m will be more than Fernandez's release clause but will be paid in instalments, and there is thought to be increasing belief on both sides that a deal will be completed before Tuesday night's deadline.
Chelsea have been overly active in the transfer market this month and have spent more than £155m on seven players, with Ukrainian forward Mykhaylo Mudryk, French defender Benoit Badiashile, English winger Noni Madueke, Brazilian striker Andrey Santos, and Ivorian striker David Datro Fofana all arriving at Stamford Bridge. French right-back Malo Gusto has also been signed but will spend the rest of the season back on loan at Lyon, while Portuguese playmaker Joao Felix joined on loan from Atletico Madrid.
Chelsea's busy month follows a summer in which they spent £278.4m on new players – a Premier League record for most money spent in one transfer window.
For all the money spent and the many new faces arriving at Chelsea, a deal for Fernandez would be the most eye-catching. The 21-year-old played a pivotal role in Argentina's World Cup triumph in Qatar, winning the Best Young Player award, and is regarded as one of the most exciting young talents in world football.
Fernandez would also bolster a midfield in need of refreshing. Defensive midfielder N'Golo Kante has struggled for fitness in recent seasons and is out of contract in June, as is Jorginho, while the likes of Conor Gallagher and Ruben Loftus-Cheek have struggled to convince that they are the long-term answer. Denis Zakaria has done well since getting his chance in the team but, as a loan player, his future at the club is far from guaranteed. Carney Chukwuemeka looks an exciting talent but at 19 years old has plenty of room to develop.
Identifying central midfield as an area to improve, Chelsea have also set their sights on Brighton & Hove Albion's Moises Caicedo, although any move for the Ecuadorian is likely to depend on outgoings.
All the biggest deals of the January transfer window
Caicedo was signed by, and played under, current Chelsea manager Graham Potter and the former Brighton boss is a big admirer of the 21-year-old midfielder. Brighton have always maintained that they are not interested in selling Caicedo this month, although the player made public his desire to leave the club in a recent social media post.
Arsenal are also reported to be interested in the Ecuador international and will hope Chelsea don't beat them to another top target. The Gunners had expected to sign Mudryk, before the Blues swept in at the 11th hour.
Among the Chelsea exits that could take place this month, Arsenal are reportedly interested in Jorginho, and talks are thought to be ongoing with Paris Saint-Germain over Hakim Ziyech.
Gallagher, meanwhile, is a target for Newcastle United, Everton, and Crystal Palace. Everton, who appointed Sean Dyche as their new manager this week, made a bid on Monday for the England international but he is said to not be keen on a move to Goodison Park.
Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
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The Internet
Hive Mind
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Company profile
Name: Dukkantek
Started: January 2021
Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani
Based: UAE
Number of employees: 140
Sector: B2B Vertical SaaS(software as a service)
Investment: $5.2 million
Funding stage: Seed round
Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
Match statistics
Dubai Sports City Eagles 8 Dubai Exiles 85
Eagles
Try: Bailey
Pen: Carey
Exiles
Tries: Botes 3, Sackmann 2, Fourie 2, Penalty, Walsh, Gairn, Crossley, Stubbs
Cons: Gerber 7
Pens: Gerber 3
Man of the match: Tomas Sackmann (Exiles)
UAE currency: the story behind the money in your pockets
Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
