It would be "insane" if Man City managed to sign Enzo.

Chelsea has just poured cold water on Man City's hopes by stating they will only accept a £120 million price tag for Enzo Fernandez, and requiring the transfer to be finalized today, August 14th.

Many people are asking why Chelsea has set such a huge price for Enzo. Is this figure truly outrageous when compared to other expensive Premier League transfers this summer, such as Elliot Anderson moving from Nottingham Forest to Man City, or Morgan Rogers going from Aston Villa to Chelsea?

Chelsea holds the upper hand in Enzo's future.

The £120 million price tag for Enzo is not unreasonable. His contract with Chelsea runs until the summer of 2032, and the Argentine midfielder currently earns £11.7 million per season before tax. These numbers give Chelsea complete control over deciding Enzo's destiny.

The fact that Chelsea previously spent £106 million to bring Enzo from Benfica in early 2023 is also a key factor behind the current price they have set for Man City or any other club wanting to sign the midfielder. Chelsea did not pay the entire £106 million upfront but spread the fee over the contract term. Therefore, to comply with Premier League financial regulations, Chelsea has even more reason to set a high transfer fee if they want to part ways with Enzo this summer.

What other reasons make Chelsea confident in keeping Enzo? It is very hard to imagine Man City submitting a £120 million offer just before the 5pm deadline today (local time). The Anderson deal took Man City weeks to complete. Their first offer for Nottingham Forest was £80 million and was immediately rejected. Only when Man City raised the bid to £116 million did Anderson leave Nottingham Forest.

Chelsea seems to be trying to politely "push away" Man City from the Enzo deal rather than seriously making a request for a transfer that could set a new record in the summer of 2026. Notably, apart from Man City, no other club is believed to be interested in signing the Argentine midfielder.

Man City does not prioritize the Enzo deal.

Man City is very excited about the prospect of bringing Enzo back to reunite with his former coach Maresca. But is this a target they are willing to pursue at all costs? The answer is no.

Man City's top priority right now is to resolve the future of Rodri, who is reportedly keen to return to Spain to play for Barcelona, and to sign young midfielder Ayyoud Bouaddi from Lille.

Money is not an issue for Man City. They are fully capable of signing both Bouaddi and Enzo in the same summer transfer window. However, Premier League financial regulations mean Maresca's team can only prioritize one of the two deals. After spending £116 million on Anderson, Man City does not want to keep splashing out on another £100 million deal without first offloading players who are no longer in their plans.

Buying Bouaddi is more feasible than Enzo at this point, not only because the French midfielder is younger. Lille's asking price for Bouaddi ranges from £68 million to £86 million. That figure is not low for an 18-year-old midfielder, but it is still more acceptable in the eyes of Man City. The fact that the Manchester Blues have already completed negotiations on personal terms with Bouaddi makes the deal brighter than ever.

On the other hand, everything known about the Enzo deal so far remains at the rumor level, rather than a concrete move from Man City. Too many obstacles await the Manchester club: the sky-high transfer fee demanded by Chelsea, not to mention Enzo's wage demands, since his current £180,000 per week at Stamford Bridge may not be attractive enough if he moves to Man City.

Before signing Enzo, Man City also needs to complete the clearance of midfield personnel. Tijjani Reijnders has been noticed by Nottingham Forest, but the Dutch midfielder has no interest in joining a team that does not qualify for European competition. Meanwhile, Nico Gonzalez and Mateo Kovacic have yet to receive significant interest.

With so many obstacles, the door for Enzo to join Man City is now very narrow.