Chelsea will have to surpass €40 million tax hurdle in move for Benfica star Enzo Fernandez - Reports

Chelsea will have to pay €40 million in tax if they were to meet SL Benfica star Enzo Fernandez's release clause, as per TyC journalist Cesar Luis Merlo (h/t @AlbicelesteTalk).

This, coupled with the player's €120 million release clause, could take the total transfer package up to €160 million. According to Merlo, Fernandez is likely to stay at Benfica unless a 'miracle' happens.

He said:

"If Chelsea were to pay the release clause for Enzo - the clause [plus] taxes will be total of €160M. I see almost unfeasible [that Chelsea will pay the release clause], Enzo will stay at Benfica for this season unless miracle happens."

Benfica apparently wants to keep Fernandez at the club until at least the end of the season. They signed him from River Plate last summer for a fee of around €12 million.

He has since registered four goals and seven assists in 28 games across competitions for his new club. Seven of Fernandez's 10 senior caps for Argentina came in Qatar, where his team won the 2022 FIFA World Cup.

Chelsea seemingly met with the Portuguese giants earlier this month in London, but the deal fell through after they did not offer what they promised on the phone. Now, the Primeira Liga giants are against restarting talks.

Chelsea can eliminate this problem by activating the 21-year-old's release clause. But €160 million is an amount even the deep pockets of club owner Todd Boehly could find hard to satisfy.

The Blues, nonetheless, are supposedly planning another raid on Benfica for the player before deadline day. It is hard to imagine how they plan on balancing their books if they plan to make a nine-figure offer for Fernandez.

They have already spent close to €521 million in transfer fees since the end of last season.

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Chelsea need a big push in the coming months to make the top four

Owner Todd Boehly's January splurge could be seen by some as a desperate attempt to fix the club's disastrous campaign.

They are on course to finish outside the top four for just the fourth time since the 2001-02 season. The Blues are in 10th place, amassing a paltry tally of 29 points from 20 league games — 10 away from fourth-placed Manchester United.

The west London giants have won just three of their last 12 games across competitions.

Manager Graham Potter will hope the new signings help the club salvage its season. They have signed David Datro Fofana, Benoit Badiashile, Mykhaylo Mudryk, Joao Felix (loan), Noni Madueke, and Andrey Santos this season.

On the contrary, the English tactician could face the challenging task of galvanizing a big, young squad with many young faces.