Enzo Fernandez

Joao Cancelo

LONDON — Chelsea paid a Premier League record fee of 121 million euros ($131 million) to sign Enzo Fernandez as Joao Cancelo made a surprise move to Bayern Munich and Jorginho joined Arsenal on a frantic transfer deadline day in Europe.

Premier League clubs have once again massively outspent their rivals in a desperate scramble to strengthen their squads for the second half of the season.

Graham Potter's struggling Chelsea went on a staggering spending spree in January, bringing in a clutch of players including Mykhaylo Mudryk, Benoit Badiashile, Noni Madueke and Joao Felix, who joined on loan from Atletico Madrid.

World Cup winner Fernandez, whose transfer was announced by Portuguese club Benfica in the early hours of Wednesday, is Chelsea's eighth signing of the January window. The 106.8 million pound ($131 million) fee eclipses the previous record of 100 million pounds that Manchester City paid Aston Villa for Jack Grealish in 2021.

Fernandez, named Best Young Player of the World Cup for his displays during Argentina's successful campaign in Qatar, only joined Portuguese giant Benfica in July last year, for a reported fee of around 10 million pounds.

The 22-year-old is understood to have signed an eight-and-half-year deal that will run until 2031.

Todd Boehly's consortium has spent hundreds of millions of pounds since buying Chelsea at the end of last season but the club are languishing in 10th place in the Premier League.

Cancelo joins Bayern

Bayern Munich signed Manchester City wingback Cancelo on loan until the end of the season and has an option to buy him for a reported 70 million euros.

The 28-year-old Portuguese defender joined City from Juventus in 2019 but has been a peripheral figure in Pep Guardiola's team since the World Cup.

"FC Bayern is a great club, one of the best in the world, and it's enormous motivation for me to now play alongside these extraordinary players," Cancelo said.

Premier League leader Arsenal snapped up Italy midfielder Jorginho from Chelsea for a reported fee of 12 million pounds.

Jorginho, who is understood to have signed an 18-month deal at the Emirates Stadium, told Arsenal.com: "I'm very excited for this new challenge and I just can't wait to be on the pitch.

"Everything has happened so fast. I was a bit surprised, but I took the opportunity of this amazing challenge."

The Gunners, bidding to win their first Premier League crown since 2004, signed Belgium forward Leandro Trossard from Brighton and Poland defender Jakub Kiwior from Italian side Spezia earlier this month.

Arsenal's north London rival Tottenham announced the signing of defender Pedro Porro from Sporting Lisbon minutes before the deadline.

The rightback has signed on loan until the end of the season with an obligation to make the move permanent at the end of the season.

Manchester United announced it had signed Bayern Munich midfielder Marcel Sabitzer on loan early Wednesday.

United was forced into deadline-day action on Tuesday following an ankle injury to Christian Eriksen, which is set to rule the Denmark midfielder out until early May.

Manager Erik ten Hag completed the loan signing of the Netherlands forward Wout Weghorst earlier in the month.

High-flying Newcastle has followed up its signing of Anthony Gordon from Everton by securing Scotland Under-21 fullback Harrison Ashby from West Ham.