Chelsea are now very close to completing the transfer of Argentina World Cup star Enzo Fernandez after reaching an agreement with Benfica, according to Sky Sport Italia’s Gianluca Di Marzio.

According to Di Marzio, the Blues have agreed a payment structure in principle with Benfica worth around €127million.

Chelsea will pay the €127million transfer fee in three instalments with Di Marzio claiming the deal is moving fast with the final details set to be sorted.

Chelsea’s new-look recruitment team have identified World Cup winner Fernandez as the ideal signing to reinvigorate our ageing midfield.

Chelsea would have risked breaching Financial Fair Play rules if the Blues had agreed to pay the whole fee in one lump sump and it would have massively diluted the club’s ability to buy other targets.

Benfica have already moved to sign a replacement for Fernandez with the Portuguese club returning to Argentina again to sign Racing’s Carlos Alcaraz who is likely to cost around €17million.

Fernandez has already agreed personal terms with the Blues and is now set to undergo his Chelsea medical.

Meanwhile, Felix Johnston of Chelsea Loan Army has previously confirmed Chelsea have reached an agreement with Benfica to sign Fernandez.

Felix revealed Chelsea will pay Benfica €120million in three instalments with another €10million in performance related add-ons.