Liverpool and Bayern Munich go head-to-head for £102m star, he wants to leave his current club
Liverpool desperately need to bring in some more players this summer.
They may have added Jeremy Jacquet and Victor Munoz to their ranks already but, since Jacquet's deal was confirmed in January and Munoz is more of a squad option, neither of them really count towards Liverpool's total of new players.
However, since the Reds don't have an endless money pit like some clubs, they have to be smart about which players they want to sign and what positions they want to bolster.
So, the fact that they're now entering the race for another player who's worth over £100 million is a tad strange, especially since several areas among their ranks still need upgrading.
Liverpool, Bayern Munich and Paris Saint-Germain all want to sign Enzo Fernandez
Liverpool's midfield was arguably the worst-performing area of their squad during the 2025-26 season.
Alexis Mac Allister and Ryan Gravenberch were fractions of their former selves with neither of them managing to meet the standards they set during the Reds' Premier League winning season.
Each of them had dodgy moments in almost every game which has led to Liverpool being linked with several midfielders this summer.
And now, as per a fresh update from Fichajes, Enzo Fernandez has reportedly made it onto the Reds' radar.
"Enzo Fernández has made the firm decision to leave Chelsea this transfer window after the London club failed to qualify for the next edition of the Champions League, a scenario that has reignited strong interest from European giants such as PSG , Liverpool , and Bayern Munich," they wrote.
"The transfer market is heating up.
The Stamford Bridge board has given the green light to his permanent transfer, but has set a fixed release clause of €120 million to recoup their investment.
"Faced with this high figure, Real Madrid has been forced to withdraw from the bidding, as they cannot afford such a significant expense without first completing several major sales within their first-team squad.
The Argentine midfielder is coming off a brilliant individual season in England, despite his team's overall performance, racking up 15 goals and 7 assists in 54 official matches.
"The player has a long-term contract with the English club until June 2032 , but his desire to compete at the highest level in Europe has jeopardized the stability of his contract in London.
"Real Madrid's refusal to pay the €120 million release clause has cleared the way for other European financial powerhouses to make their moves behind the scenes.
"Sporting directors are already preparing their first written offers, knowing that the creative midfielder is looking for a well-established project where he can regain his prominence in the top club competition.
"Phone calls between the player's representatives and the interested clubs have increased dramatically in the final hours of July."
Liverpool signing Enzo Fernandez would be the shock of the window
Before Fernandez joined Chelsea, Liverpool were briefly linked with a move for the Argentinian.
But, when the fee for the deal went over £100 million, it ended up being too much of a risk for Liverpool to take.
This led to the Blues signing him and, during his time at Stamford Bridge, he's quickly become one of Chelsea's best players.
However, since they missed out on Champions League football again, the midfielder is seeking pastures new and, at 25 years old, he's likely to be in his prime which is why he won't want to be missing out on playing at the top level for much longer.
Indeed, the fact that Paris Saint-Germain and Bayern Munich also want him does make a deal tougher to agree but, since he's already got tonnes of Premier League experience and has been one of Argentina's best players at the 2026 World Cup, the over £100 million fee seems reasonable.
But, the main question is whether Liverpool would want to spend most of their transfer budget on a new midfielder when their attack is also in dire need of reinforcement.
These are all questions that Andoni Iraola and Richard Hughes will need to answer before the transfer window slams shut at the start of September but, the sooner they find their answers, the easier it'll be for new players to get integrated and perform.
Which, if they want to win some silverware this summer, is going to be essential.