Fernández only joined Chelsea in 2023 for a then-British record fee of £105million, but speculation is already building over his future amid another turbulent season at Stamford Bridge.
The Blues’ struggles have intensified in recent months, with reports suggesting internal unrest and a managerial change adding further uncertainty around several key players.
City are now understood to be among the clubs monitoring the 25-year-old’s situation, with Pep Guardiola’s side preparing for midfield changes ahead of the summer window.
The Sun reports Manchester City are interested in signing Enzo Fernández, with the Premier League champions identifying him as a potential target as they plan for long-term squad evolution.
The report adds that Real Madrid are also tracking the Chelsea midfielder, setting up a potential transfer fight between two of Europe’s biggest clubs.
Fernández’s future has been a growing talking point after comments made earlier in the season raised eyebrows in west London.
The Argentina international recently served a two-match internal suspension after hinting at a possible move away, with reports also suggesting he was stripped of the captaincy in Reece James’ absence for a fixture against Manchester United.
He had previously said in a YouTube video: “I’d like to live in Madrid. It’s a beautiful city, reminds me of Buenos Aires.”
That remark only intensified speculation linking him with a switch to Spain, with Real Madrid long-term admirers of the midfielder.
City’s interest comes as they prepare for possible midfield departures, with Bernardo Silva expected to leave at the end of the season after nine years at the club.
The Portugal international has been one of Guardiola’s most trusted players, and his exit would leave a significant creative gap in midfield.
Alongside Fernández, City are also reportedly considering Nottingham Forest’s Elliot Anderson, with both Manchester clubs tracking the 23-year-old after his rise in the Premier League.
Fernández, meanwhile, remains under contract at Chelsea but is now firmly at the centre of what could become one of the summer’s most high-profile transfer sagas.