Fernandez and some of his Argentina team-mates could be seen in the video, chanting a derogatory song about the France team.
The incident happened shortly after Albiceleste defeated Colombia in the final of the 2024 Copa America.
Fernandez’s team-mate at Chelsea, Wesley Fofana, reposted the video on X and captioned it: “Football in 2024: uninhibited racism”. But he later posted an apology on Instagram.
On Wednesday morning Chelsea said in a statement: the Club finds all forms of discriminatory behaviour completely unacceptable adding that the club has instigated an internal disciplinary procedure.