Chelsea have returned with a bid worth £105 million ($130m) for Benfica midfielder Enzo Fernandez.

Having failed to get a deal over the line at the beginning of January, Chelsea have reignited their interest in Fernandez with the transfer window almost shut. The Telegraph report that the Blues have tabled a £105m offer to Benfica for the Argentine, and are optimistic that they will be successful with their approach before the transfer deadline.

The current offer meets the buy-out clause inserted into Fernandez's Benfica contract, but sees the fee staggered across one larger payment and five smaller instalments. The report states this leaves room for negotiation, but with the money offered, Chelsea are hopeful it will be enough to convince Benfica to finally let Fernandez go.

If the deal is done for that fee, Fernandez would smash the British record transfer fee set by Jack Grealish when he moved to Manchester City in 2021, while also eclipsing the £97m club-record fee they paid to re-sign Romelu Lukaku from Inter.

Chelsea have been in hot pursuit of Fernandez ever since the window first opened, with the World Cup's Young Player of the Tournament making no secret of his desire to leave for Stamford Bridge. Benfica, though, have remained resistant to selling their star man thus far, despite him agreeing to a move at the beginning of the month.

Much like their entire January, Chelsea are braced for a frantic few days as the window slides shut. Any move for Fernandez could possibly hinge on Conor Gallagher's potential transfer to Everton, with the Toffees submitting a bid for the English midfielder. It could also signal the end of their pursuit of Moises Caicedo, who is seemingly trying to force an exit from Brighton.