Chelsea are trying to land Argentinian World Cup winner from the Benfica for a reported fee of 120 million euros (£105.5m).
The previous record was set by Manchester City following the signing of Jack Grealish for £100m in August 2021.
However, Chelsea could also make a late bid for Brighton’s Moises Caicedo, who has been linked with Arsenal for much of the last month.
The south coast club turned down Arsenal’s initial £60m offer, and have since been adamant the Ecuador international will remain at the club for the rest of the season.
But Fernandez is likely to be the latest in a string of new arrivals at Chelsea, who have spent over £450 million on transfers since the conclusion of last season.
Data collected by Seatpick.
However, Chelsea could also make a late bid for Brighton’s Moises Caicedo, who has been linked with Arsenal for much of the last month.
![The first Yorkshireman in the list, and the first defender. Manchester United paid Leicester City £76.5m for the former Sheffield United and Hull City defender (Picture: Michael Steele/Getty Images)](https://www.yorkshirepost.co.uk/webimg/b25lY21zOjMwOWUxZmYxLWJiOTUtNGIyZC1hYjM3LTRjYzg2NjEzOTE1MDpmOTBhNTAzMi1jNzQ2LTQ3ODgtYWRkNC05MjE2YjEyYmJhMDc=.jpg?crop=3:2&width=800)
5. Harry Maguire - Leicester City to Manchester United - £76.5m
The first Yorkshireman in the list, and the first defender. Manchester United paid Leicester City £76.5m for the former Sheffield United and Hull City defender (Picture: Michael Steele/Getty Images) Photo: Michael Steele
![Manchester United feature prominently on this list, spending another £74.7m to take Jadon Sancho from Borussia Dortmund in 2021. (Picture: Naomi Baker/Getty Images)](https://www.yorkshirepost.co.uk/webimg/b25lY21zOmUxZTk1YjA3LTIxM2UtNDQyZC05MmE5LTU4ZmNiZmJkYTM1NjowZmU0ZmFjZS00MzEwLTRlZjAtYjU5NC0wNjAwMzUwNTM0MDk=.jpg?crop=3:2&width=800)
6. Jadon Sancho - Borussia Dortmund to Manchester United - £74.7m
Manchester United feature prominently on this list, spending another £74.7m to take Jadon Sancho from Borussia Dortmund in 2021. (Picture: Naomi Baker/Getty Images) Photo: Naomi Baker
![Manchester United again, and Lukaku again - this time a fee of £74.5m for the Red Devils to take him from Everton in 2017.](https://www.yorkshirepost.co.uk/webimg/b25lY21zOmFjOWQwY2QzLTkyNjctNGUwNy1hOTFjLTdhNDg4ODY2NjQ0Yzo0YzMyNTU1OS00ZGNlLTQxZGEtYjJmMS1iZjJjMDdmNGIxNDI=.jpg?crop=3:2&width=800)
7. Romelu Lukaku - Everton to Manchester United - £74.5m
Manchester United again, and Lukaku again - this time a fee of £74.5m for the Red Devils to take him from Everton in 2017. Photo: IAN KINGTON
![Liverpool's first entry is at No 8, as they spent £74.4m to prise Dutch defender Virgil van Dijk from Southampton (Picture: Mark Thompson/Getty Images)](https://www.yorkshirepost.co.uk/webimg/b25lY21zOjY0ODZjZTJkLTMyYmYtNDBjMi1hODRhLTJhMDRkYTM2OGUyNzphMGZlY2VlNS00YmE5LTQ1MWItOTRkNS1iZTA3MTU3MmFlZDE=.jpg?crop=3:2&width=800)
8. Virgil van Dijk - Southampton to Liverpool - £74.4m
Liverpool's first entry is at No 8, as they spent £74.4m to prise Dutch defender Virgil van Dijk from Southampton (Picture: Mark Thompson/Getty Images) Photo: Mark Thompson