Chelsea are reportedly exploring an ambitious swap deal with Real Madrid that could see Brazilian winger Rodrygo Goes move to Stamford Bridge, with Argentine midfielder Enzo Fernández heading in the opposite direction. This potential transfer, though still in the speculative stage, has gathered attention in recent weeks due to the strategic needs of both clubs and the evolving roles of key players in their respective squads.
Rodrygo, 24, has had a mixed spell at Real Madrid. While he’s played crucial roles in big games—particularly in the Champions League—his position has become increasingly uncertain with the arrivals of Jude Bellingham last season and Kylian Mbappé this summer. With Vinícius Júnior virtually untouchable on the left wing and Mbappé likely to occupy a central attacking role, Rodrygo’s game time may be significantly limited going forward. Real Madrid may be willing to let him go, but only for the right price or a strategic swap that strengthens another area of the team.
Chelsea, under new management and with another major rebuild underway, view Rodrygo as a high-quality addition to their attack—someone who can play on either wing, offers Champions League pedigree, and fits the young, dynamic profile the club is aiming for. However, Financial Fair Play (FFP) concerns and existing investments mean a straight cash offer of €80–100 million might be challenging. Therefore, a swap involving Enzo Fernández, Chelsea’s record signing from Benfica in January 2023, has reportedly been discussed.
Enzo, 23, was signed for over £100 million following his breakout World Cup with Argentina. Despite some strong performances, Chelsea’s chaotic 2023–24 season and constant tactical changes have meant he hasn’t fully settled or fulfilled his potential in the Premier League. Real Madrid, under incoming manager Xabi Alonso, are said to be targeting midfield reinforcements to complement the aging duo of Luka Modrić and Toni Kroos (who is retiring) and support rising stars like Eduardo Camavinga and Aurélien Tchouaméni. Enzo’s composure on the ball, vision, and work rate make him a strong fit for Madrid’s evolving midfield.
The structure of the deal would likely include a cash component, as Rodrygo’s valuation exceeds Enzo’s current market price. Reports suggest that Chelsea would need to offer Enzo plus a significant fee to make the swap palatable to Real Madrid. Despite the complexity, the appeal of solving two major squad issues through a single transaction makes it a plausible scenario.
For Chelsea, landing Rodrygo would inject high-level experience and attacking quality into a side that has lacked consistency in the final third. For Real Madrid, bringing in Enzo would secure a long-term midfield anchor and help transition into the post-Kroos/Modrić era.
At this stage, it remains a speculative but logical rumor. If negotiations progress, it could become one of the most high-profile swap deals in recent transfer history.