The Italian journalist Fabrizio Romano quoted Benfica boss Roger Schmidt as claiming that Enzo's transfer story is over.
Benfica coach Roger Schmidt on Enzo Fernández: “The Enzo story is closed, there's nothing left. He’s our player”.
“He's in a good position, Enzo is happy, training well, he's part of the team. He's a key player. That’s all”.
The German manager revealed that the Argentinian World Cup-winning sensation was 'one of our players' after a long, drawn-out pursuit from Graham Potter's Premier League side.
The Lisbon-based club only signed Fernandez from River Plate for £10million, and looked a staggering £112m switch to west London after he was left out of a recent Benfica game, which Schmidt claimed was due to disciplinary reasons.
Since winning the World Cup's Young Player of the Tournament award due to his dazzling displays for the newly-crown World champions, Fernandez has been the subject of major interest from numerous clubs.
But Chelsea had looked the closest to landing his signature - less than a year after his move to Europe from Argentinian outfit River Plate - before the deal reportedly broke down over the final fee.
'I already said that, this question is closed,' Schmidt revealed ahead of his side's round of 16 clash with Varzim in the Taca de Portugal (Portuguese Cup).
'He's one of our players. He's happy, training well, he's part of the team. That's all said.'
The Blues had been interested in bringing the youngster to Stamford Bridge in this window in an attempt to beat other interested parties to the punch ahead of the summer transfer window.
However, Potter's side appeared unwilling to meet his eye-watering £106m release clause, which Benfica had steadfastly refused to budge on.
Chelsea even attempted to persuade the Aguias with a higher fee of £112m spread across several instalments, but to no avail.
As a result Fernandez looks set to stay at the Stadium of Light (Estadio da Luz) in the Portuguese capital until at least the summer of 2023, when they might expect several clubs to come knocking for the 21-year-old's services.
Fernandez played in all seven of the Albiceleste's World Cup matches, scoring once and assisting another after only making his debut in September and playing three friendly matches before the tournament.
For his club, the midfielder has managed two goals and five assists in all competitions since his summer arrival on a £10m deal.