Chelsea have set a Friday deadline for offers of £120m or more from clubs interested in midfielder Enzo Fernandez.

The Argentina international, 25, has faced uncertainty over his future at Stamford Bridge since March, when he first raised the possibility of a move to Real Madrid.

Around that time, his agent Javier Pastore publicly stated his client was underpaid and wanted to leave following a difficult season in which Chelsea finished 10th in the Premier League and ended the campaign without a trophy after losing the FA Cup final to Manchester City.

Real Madrid have since said they have “no intention” of signing Fernandez, leaving the only known potential suitors as Manchester City, whose new boss Enzo Maresca left Chelsea midway through last season.

It remains unclear whether City would be willing to meet the player’s valuation, with the Etihad outfit also known to be targeting Lille’s Moroccan midfielder Ayoub Bouaddi.

Chelsea have set a deadline of 17:00 BST on Friday for any offers and are expected to stand firm on their £120m price tag, even though they signed him for £107m from Benfica in 2023.

The deadline is intended to bring an end to uncertainty before the start of the season, having given Fernandez and any interested clubs around 60 days to complete a deal at what Chelsea consider a fair price.

New manager Xabi Alonso has spoken to Fernandez about his future, but has declined to disclose details of their conversation.

It is understood Chelsea have made it clear they are willing to fully reintegrate Fernandez into the squad and allow him to continue as a key player.

He scored 15 goals and provided seven assists in 54 appearances for the club last season. He then helped Argentina reach the World Cup final, where he was sent off as they lost to Spain 1-0.

Fernandez returned to training with Chelsea this week for the first time under Alonso.