Fernandez, signed by Chelsea in 2023 for a then British-record 107 million pounds, is understood to be unsettled after the dismissal of Enzo Maresca on New Year's Day. The Argentine enjoyed his most productive spell at the club under the Italian, eventually being handed the captaincy and playing a central role in Chelsea's Conference League triumph and return to Champions League football last season.
Maresca's departure, triggered by a breakdown in relations with Chelsea's hierarchy, has prompted Fernandez to reassess his long-term position despite being under contract until 2031. Speaking publicly after scoring a dramatic stoppage-time equaliser against Manchester City on January 4, the World Cup winner admitted he was "sad" to see the coach leave, later posting an emotional tribute thanking Maresca and his staff for their guidance and shared success.
According to French outlet L'Equipe, PSG have identified Fernandez as a priority target as they look to refresh their midfield. While the reigning European champions built last season's historic treble around Vitinha, Joao Neves and Fabian Ruiz, there is a growing sense in Paris that the unit has dipped this campaign. Performances from Neves and Ruiz, in particular, have failed to reach the standards that underpinned their Champions League triumph.
Sources close to PSG have suggested that a lack of internal competition has bred complacency within the squad. "Not bringing in more competition is a mistake," one source told L'Equipe, pointing to a perceived drop in intensity, especially in counter-pressing and overall ambition.
Despite their interest, PSG are not expected to move for Fernandez during the January window. Any approach is likely to come at the end of the season, with the club viewing the Chelsea captain as a long-term investment rather than a mid-season solution.