Real Madrid make first move in pursuit of Chelsea midfielder Enzo Fernandez - who is valued at £120m

Real Madrid hold genuine interest in signing Enzo Fernandez this summer, sources close to Chelsea's £120million-valued midfielder have confirmed.

Real have long been linked on the assumption that they would be one of the few clubs in world football who could afford the 25-year-old Argentinian World Cup winner. Fernandez has also openly admitted he would like to live in Madrid someday.

Now, Daily Mail Sport has learned Real have expressed legitimate interest in Fernandez, who is likewise open to leaving Chelsea for a new challenge in this next transfer window.

Florentino Perez will be remaining Real president after winning his re-election against challenger, Enrique Riquelme. Perez, 79, won while promising major moves under their next manager, Jose Mourinho, 63.

That included pledging to bid ‘at least €150m’ for an unnamed ‘Galactico’, reportedly Michael Olise of Bayern Munich. The German giants have since said Olise is not for sale at any price.

Chelsea, who did not comment when contacted regarding Fernandez, will now wait to see whether Real’s interest in their vice captain amounts to a formal offer.

The Premier League side will not allow Fernandez to leave on the cheap. Sources have confirmed their valuation of £120m while adding they would be happy to keep him for next season under new manager Xabi Alonso if a rival club does not submit a suitable bid. They have not been actively searching for buyers.

As well as Real, Paris Saint-Germain and Manchester City, who are set to be managed by former Chelsea head coach Enzo Maresca, have been loosely linked.

Fernandez is contracted to Chelsea until 2032 after costing £106.8m when signed from Benfica. There have been on-again, off-again talks surrounding a new deal – similar to those signed by Moises Caicedo, Reece James and others within Stamford Bridge – though no agreement has ever been reached between player and club.

Fernandez was previously handed an internal two-game suspension by Chelsea, who were managed by Liam Rosenior at the time, for using interviews during an international break to flirt with the idea of living in Madrid. He is now away preparing for the World Cup with Argentina.