Chelsea have reportedly closed the door on a previously discussed £120 million exit arrangement for midfielder Enzo Fernández after the deadline for interested clubs passed without an official bid.

The London club had reportedly made the figure available to Fernández’s representatives at the end of May as a potential benchmark for his departure.

However, the arrangement was understood to be conditional on a formal offer arriving by Friday evening.

With no proposal submitted before the reported 5pm UK deadline, Chelsea have withdrawn the £120 million figure.

Any club still hoping to sign the Argentina international will now have to negotiate directly with the Premier League side.

Fernández joined Chelsea from Benfica in January 2023 in a major transfer and has since established himself as an important member of the squad.

His continued involvement with the team has made his potential departure a major talking point during the transfer window.

Reports had suggested that Chelsea were prepared to consider an offer of at least £120 million for the midfielder.

However, the expiration of the arrangement means potential suitors can no longer rely on that previously discussed figure when attempting to secure his services.

For now, Fernández remains a Chelsea player and is still under contract with the club. Unless a new agreement is reached between Chelsea and an interested team, the midfielder is expected to continue his career at Stamford Bridge.

The development could also provide Chelsea with greater control over any future negotiations, as clubs will now need to deal directly with the club over Fernández’s valuation rather than working around the withdrawn verbal arrangement.