Chelsea have submitted an offer of €127m-€130m for the transfer of Benfica midfielder and Argentina World Cup star Enzo Fernandez.

Chelsea have offered more than his €120million release clause because the Blues want to pay the transfer fee in instalments.

According to transfer expert Ben Jacobs, while Benfica are willing to accept Chelsea’s offer to pay in instalments, the Portuguese club are asking for a bigger first payment.

However, Chelsea are sticking to the club’s position of paying the transfer fee of Fernandez in three equal instalments.

Jacobs tweeted: “Chelsea and Benfica held further (and long) talks last night on Enzo Fernandez. Still some key points of difference.

“Benfica are prepared to sell in a deal spread over multiple instalments, but asked for a bigger first payment.

“Chelsea sticking to their position due to strength of overall offer (way above current market value) and FFP rules.

“Deal remains close and Chelsea still encouraged because there feels an urgency by all parties to resolve things. But talks needed Wednesday before anything 💯 done.”