Chelsea are said to have activated a clause in Enzo Fernandez's contract to extend his stay at Stamford Bridge by a further year. The Blues completed a British record deal to sign the Argentina World Cup winner for £106.8million from Benfica in the January transfer window.
Fernandez completed a move to the Blues on deadline day and has been a good addition to the midfield since his arrival - registering two assists in 13 appearances. The 22-year-old had signed an eight-year contract that would see him stay with the club until 2031.
This would see Chelsea pay the huge £106.8million transfer fee over those eight years - equating to £12.5million-a-year. The extension to his deal by a further year will help the Blues lower that payment by a further £1.25million as it is now spread over nine-and-a-half years.
READ MORE: How Chelsea can afford Enzo Fernandez transfer after £283m January spend under FFP rules
According to Cesar Luis Merlo, Chelsea have activated a clause in Fernandez's contract to extend his deal until June 2032. Therefore, the Blues will now be able to amortise the cost to £11.25million per year over the course of his deal from when he signed in January 2023.
With European football looking highly unlikely for the west Londoners next season, this minimal saving in payments could help them abide by Financial Fair Play (FFP) regulations. This is due to amortisation as the value of a transfer fee is spread out across length of a player's contract, meaning that the £106.8million fee is now only worth £11.25million-per-year plus wages for the Argentina international.
Speaking on the Football Daily podcast by BBC, David Ornstein explained how Chelsea could even register a profit this window with just one sale. "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," Ornstein explained.
"Mudryk for example is an outlay of £8million on books. Chelsea could end this window in profit if a homegrown player was sold."
Despite spending over £600million on new signings under Todd Boehly, should Chelsea sell - for example - Mason Mount this summer, it would go along way to making sure they abide FFP spending rules. By extending Fernandez's contract, it brings down the payments the Blues will make to Benfica per year and allow them to continue spending in the transfer market.
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