Chelsea have signed World Cup winner Enzo Fernandez from Benfica for a British-record €121 million, the Portuguese club announced early on Wednesday.
The midfielder, 22, was named Best Young Player of the World Cup for his displays during Argentina's successful campaign in Qatar.
The £106.8 million fee eclipses the previous record of £100 million that Manchester City paid Aston Villa for Jack Grealish in 2021.
Fernandez only joined the Portuguese giants in July last year, for a reported fee of around £10 million.
He has signed an eight-and-half-year deal that will run until 2031.
Todd Boehly's consortium has spent hundreds of millions since buying Chelsea at the end of last season in the hope that his extra splurge will lift the club from 10th place in the Premier League.