Enzo Fernandez has become the most expensive player in the history of Premier League as Chelsea scrambled to get a deal done with Benfica before the winter transfer window closed on Tuesday night. The Blues have paid a British record 121 million euros ($131 million) for the 22-year-old World Cup winner, who was named the Best Young Player of the tournament in Qatar.

Chelsea had been in negotiations to sign the Argentina midfielder in recent weeks, but Benfica had refused to do business unless the English giants paid his full release clause. An agreement was finally reached in the final hours of the deadline day before Fernandez signed an eight-and-a-half-year deal at Chelsea, keeping him at Stamford Bridge until the summer of 2031.

According to multiple British media outlets, Chelsea will pay the stunning transfer fee over several instalments, which will help them meet the Financial Fair Play (FFP) rules. The deal will take Chelsea's spending under the new owner Todd Boehly to more than 560 million euros. 

They have already signed Portugal wunderkind Joao Felix, Ukraine winger Mykhailo Mudryk and France center back Benoit Badiashile in a spending spree in January. Fernandez's arrival has opened the door for Jorginho's deadline day switch from Chelsea to Arsenal. The current Premier League leaders have signed the Italian midfielder to turbocharge their push for the topflight title.

The 31-year-old veteran, who has suffered a dip in form and lost his place in the starting line-up at Chelsea this season, penned an 18-month contract with Mikel Arteta's team, with an option to extend for a further year.

Arteta had attempted to lure Jorginho into joining Arsenal from Chelsea as early as 2020, just after he won the Champions League with the Blues. His addition will go a long way in addressing the Gunners' lack of depth in midfield, particularly after the confirmation that Mohamed Elneny sustained a serious knee injury.

"Arteta was a big influence because I know that he tried a few times to get me before and it didn't happen due to other reasons, not because of my wishes," Jorginho was quoted on the Arsenal website. "I'm very excited for this new challenge, and I just can't wait to be on the pitch to be honest! Everything has happened so fast. I was a bit surprised, but I took the opportunity of this amazing challenge."

Meanwhile, Manchester United have completed the signing of Marcel Sabitzer from Bayern Munich on loan until the end of the season after the Red Devil's Danish star Christian Eriksen suffered an ankle injury that could rule him out until May.

Sky Sports revealed that United were offered Isco, Saul Niguez, Houssem Aouar and Yannick Carrasco among others on the final day, but decided to pursue Sabitzer.

"Sometimes in life you have to make quick and important decisions," Sabitzer said. "From the moment I heard about this opportunity, I knew it was right for me. I am a competitive player; I want to win and help the club achieve its aims this season."

"I feel that I am at my peak as a player, and that I can contribute a lot of experience and energy to the squad," he added. "I'm excited to start with my new teammates and manager and to show my qualities to Manchester United fans."

Elsewhere, Spain right-back Pedro Porro joined Tottenham from Sporting Lisbon on loan, with Tottenham obliged to buy him for a reported $48 million. He was a key part of the team that won the Portuguese title in 2020-21, the club's first topflight trophy in 19 years.