Marc Cucurella has officially joined Real Madrid for up to £51.8m, raising speculation about a potential transfer of his former Chelsea teammate Enzo Fernandez, valued at £120m.
Key points
Marc Cucurella joins Real Madrid for up to £51.8m
Speculation about Enzo Fernandez following Cucurella
Fernandez valued at £120m by Chelsea
Transfer agreement progressed rapidly
Cucurella's transfer announced before World Cup game
It remains unclear how much Chelsea are willing to negotiate, or whether Madrid would meet that valuation for the Argentina international, who is also at the Fifa World Cup.
Well-placed sources say Fernandez is keen to leave Chelsea and join Real Madrid. Manchester City and Paris St-Germain have also been linked, but both are understood to have distanced themselves from any interest.
It appears to be Madrid or bust for Fernandez, although Chelsea - under new manager Xabi Alonso - would also be content to keep the midfielder, who contributed 15 goals and seven assists last season. He is under contract until 2032.
Why has Cucurella left Chelsea?
The exit of Cucurella from Chelsea is a curious one.
Only last season, the Spain international agreed improved financial terms without extending his contract, a deal that was never formally announced by the club.
After winning the European Championship with Spain, along with the Conference League and Club World Cup at , Cucurella appeared to be an integral part of the side under former manager Enzo Maresca.
Q&A
What was the transfer fee for Marc Cucurella to Real Madrid?
The transfer fee for Marc Cucurella to Real Madrid was up to £51.8m.
Is Enzo Fernandez likely to join Real Madrid after Cucurella?
There is speculation that Enzo Fernandez could follow Cucurella to Real Madrid, depending on the club's willingness to meet Chelsea's £120m valuation.
What is Enzo Fernandez's current valuation by Chelsea?
Enzo Fernandez is currently valued by Chelsea at £120m.
How quickly did Marc Cucurella's transfer to Real Madrid happen?
Marc Cucurella's transfer to Real Madrid progressed rapidly, with the deal announced just hours before his opening World Cup game.
However, his form dipped under Maresca's mid-season replacement, Liam Rosenior, and - amid a run of poor results - Cucurella criticised the managerial uncertainty and the running of the club more broadly.
Unlike Fernandez, who made similar comments in March, Cucurella was not formally punished.
Yet, despite saying in recent days that he had spoken to incoming boss Xabi Alonso and liked the idea of playing under him, he has opted to leave for Madrid.
Cucurella was quoted by Marca last week as saying: "Yes, I'm attracted to Xabi Alonso's project. I've spoken with him and he inspired a lot of confidence in me. I've also spoken with Grimaldo and Borja, who have worked with him, and they spoke very highly of him. The project seems very interesting."
For Chelsea, the deal makes financial sense. They finished 10th in the Premier League last season, will lose substantial revenue by missing out on European competition, do not currently have a long-term front-of-shirt sponsor, and remain under scrutiny from Uefa under a settlement agreement after breaching squad cost rules.
Although the club insist they do not need to sell players and will remain compliant, the sale of Cucurella improves their financial position. While it represents a small loss on the £60m paid to sign him from Brighton in 2022, due to transfer fees being amortised over the length of his contract, it equates to a profit of around £17.5m in accounting terms.
In addition, Chelsea will have fewer matches next season. With Cucurella turning 28 next month and having three years remaining on his contract, this may have represented the final opportunity to maximise a fee for a player keen to move.
Cucurella was, however, one of Chelsea's most consistent performers over the last two seasons and his departure will reduce the average age of a squad already the youngest in the Premier League.
Close up of Jorrel Hato in Chelsea shirt last summerImage source, Getty Images
Image caption,
Jorrel Hato joined Chelsea from Ajax for £37m last summer
There is also the emergence of Dutch defender Jorrel Hato, signed from Ajax last summer, who was one of the few positives in the final months of the season under Rosenior and then caretaker boss Calum McFarlane.
It will be interesting, therefore, to see whether Chelsea re-enter the market for a left-back, having already been targeting centre-backs, central midfielders and a versatile attacker.
Although Chelsea have not formally confirmed a deal, they are expected to sign Argentine Valentin Barco from partner club Strasbourg this summer. Primarily a midfielder, he played for his former clubs Brighton and Boca Junior at left-back.
There is also broader uncertainty among the club's defenders, with Chelsea already struggling to provide minutes for all their options. Without European competition, some players could grow frustrated with a lack of opportunities, although it is understood that Josh Acheampong is not for sale.
Madrid sign 'winning mentality'
Madrid are set to sign Liverpool defender Ibrahima Konate, Inter Milan full-back Denzel Dumfries and Manchester City midfielder Bernardo Silva.
It forms part of a rebuild under returning manager Jose Mourinho after a season in which they finished second to Barcelona in their domestic league and exited the Champions League at the quarter-final stage.
Asked about Cucurella's move, former Chelsea defender Mario Melchiot told BBC Radio 5 Live: "For Jose Mourinho, that's the type of player he wants. Jose wants a player he can count on.
"His mentality has to be right and he has to have the spirit and winning mentality. For Real to go after him is not a big surprise because Cucurella is the kind of player who fits Mourinho's criteria and how he wants to play.
"Away from that, Chelsea have probably looked at it and thought: 'We've got Hato.' He's younger, very talented and well developed, and he has proven himself -especially in the final games of the season - that he can step up in that position.
"When Real Madrid come knocking, you are always going to listen. He would have looked at both sides - one club is not in the Champions League and the other is - so that may have influenced his decision."
