Revealed: Chelsea’s huge asking price for Enzo Fernandez - with Jose Mourinho still keen on taking the World Cup-winning Argentine to Real Madrid

The Blues are not prepared to let one of their most valuable assets leave on the cheap, despite the player's apparent interest in a move to the Spanish capital.

After making a record-breaking investment to bring the midfielder to Stamford Bridge, Chelsea are determined to recoup a significant fee if they are to sanction a departure during the summer window.

According to The Athletic, Chelsea are prepared to sell Fernandez if a club agrees to meet their £120 million ($158m) price tag. This valuation reflects the Argentine's importance to the squad and his lengthy contract, which currently runs until 2032.

While the figure is staggering, it sets a clear benchmark for Real Madrid if they wish to proceed with a formal bid.

The pursuit of Fernandez is part of a wider strategic shift in Madrid under the leadership of Mourinho. Unlike his predecessors, the veteran manager has been granted a level of control over recruitment that is rarely seen at the club. He is reportedly the primary architect of the current policy, moving away from signing youth prospects in favour of experienced, battle-hardened stars.

This new approach was typified by a high-level summit held at Madrid’s Hotel Santo Mauro, where the manager met with club officials and agent Jorge Mendes. Mourinho is firmly building a team to win now, having already secured deals for Marc Cucurella, Ibrahima Konate, and Bernardo Silva as he looks to bring immediate success back to the Bernabeu.

The arrival of Bernardo Silva from Manchester City has already added significant quality to the Madrid ranks, with Mourinho planning to use the creative Portuguese international in a variety of roles.

The manager sees Silva as a versatile tool who can operate as a number eight, a number ten, or even as a wide attacker on the right flank depending on the opposition.

However, the potential addition of Fernandez would create further competition in a midfield that already features the likes of Jude Bellingham and Arda Guler.

The decision to move for Fernandez will ultimately depend on whether Florentino Perez is willing to sanction another massive financial outlay.

Los Blancos have already been active in the market, but the £120m ($150m) asking price for the Chelsea man remains the biggest obstacle. The club are currently balancing their books by prioritising squad departures and contract terminations before finalising their biggest moves.

With the future of star winger Vinicius Junior also uncertain as negotiations over a new deal remain on hold, the board must decide how much it is willing to spend to satisfy Mourinho's demands.