Chelsea‘s attempts to move on from the episode involving their number eight reflect a desire to steady the situation at an early stage.
Fernandez has 12 goals and six assists this season, placing him behind only striker Joao Pedro for goal involvements, in 46 appearances. He remains regarded internally as a marquee player, with Rosenior offering public praise even while enforcing the ban.
It may be a rational short-term approach, but the longer-term solution is more straightforward: money.
Either Chelsea offer Fernandez a new contract, or he attempts to force a move.
“He deserves much more than he is currently earning,” Pastore said in a lengthy interview with the Athletic during the international break.
Fernandez is among several players seeking improved terms at Stamford Bridge, alongside Colwill and Malo Gusto, with midfielder Caicedo agreeing a lucrative new deal on Thursday.
Chelsea are hopeful of agreeing one or two more deals before the end of the season.
However, with contract talks on hold until the summer, according to Fernandez’s entourage, the alternative scenario is more problematic.
Chelsea sources indicate it would take a substantial fee – close to the club-record sale that saw Eden Hazard join Real Madrid in 2019 for an initial £88m rising to £130m in add-ons – for any deal to be considered.
That valuation reflects not only Fernandez’s importance on the pitch, but also financial necessity.
Signed for £107m from Benfica on a contract running until 2032, Fernandez was part of a single-season world record £745m transfer spend in the 2022-23 campaign.
That spending was facilitated through a ‘buy now, pay later’ model, spreading costs over long contracts – such as Fernandez’s eight-and-a half-year deal – to remain compliant with the Premier League’s Profit and Sustainability rules.
So controversial was the approach that Uefa later closed the loophole, capping amortisation at a more standard five-year period.
Chelsea‘s most recent accounts show more than £200m was charged in amortisation costs during the 2024-25 season, effectively reflecting money owed on previous transfers. That figure limits the club’s ability to recruit replacements.
In Fernandez’s case, Chelsea would need to secure a fee of at least £75m–£77.6m – depending on the timing of a sale – to avoid recording a loss, which would further restrict future spending.
With Fernandez’s camp having demonstrated a willingness to take an assertive stance, and the backdrop of a World Cup providing further opportunity to shape the narrative, failure to reach a new agreement would represent a growing concern – despite Rosenior’s attempts to project confidence.
