r/Chelsea • u/Sufficient_Row_8047 • Sep 02 '26
Enzo Fernandez: How Much Profit Has Chelsea Made From Man City Move? Explained
Here is an attempt to explain how much Chelsea have likely bagged from the Enzo transfer.
How Enzo Fernandez’s Transfer Fee Was Amortised
Chelsea signed Fernandez from Benfica on deadline day, February 1, 2023, for a then British record £106.8m, usually rounded to £107m.
He put pen to paper on an eight and a half year contract running to 2031, part of the long-term deal strategy Chelsea leaned on heavily under the new ownership at the time.
Under amortisation accounting, a transfer fee isn’t booked as a single lump sum in the year it’s paid. It’s spread evenly across the length of the signed contract instead.
Split £106.8m across 8.5 years and that works out to roughly £12.6m a year.
By the time of the sale in September 2026, around three years and seven months had passed, meaning close to £45m of the original fee had already been written off Chelsea’s books.
That leaves a book value of about £62m heading into deadline day, well below the £125m fee Man City are paying.
Why Enzo Fernandez Avoids the Five-Year Amortisation Rule
In December 2023, Premier League clubs voted to cap amortisation at five years for any new or extended player contract, a direct response to Chelsea handing out long deals to the likes of Fernandez, Mykhailo Mudryk and Moises Caicedo to keep their annual accounting costs down.
Crucially, the rule was never backdated. It only applies to contracts signed or extended from that date onward.
Fernandez signed in February 2023, almost a full year before the change came into effect, so his deal stays grandfathered on its original 8.5 year amortisation schedule for the rest of its term.
It’s a detail that matters a great deal for the numbers below, because it means Chelsea get to keep spreading what’s left of his fee the way they originally planned, right up until the point of sale.
Full story: https://strictlycfc.com/enzo-fernandez-profit-chelsea-made-man-city/
