Fernandes' contract is due to expire in June 2027, although an option to extend the agreement could affect the timing and terms of any potential transfer. Negotiations over a new deal have reportedly stalled, creating uncertainty over whether the midfielder will remain at Old Trafford beyond the current season.
The 32-year-old has continued to contribute in attack, but Manchester United's inconsistent performances have made the campaign difficult. Last season, Fernandes recorded 21 Premier League assists, setting a league record according to the supplied report. This term, he has registered three goals and one assist in his first seven league appearances.
The midfielder's individual output has not been enough to prevent United from falling well short of expectations, while tensions within the club have brought his role as captain into sharper focus.
Those tensions intensified after United's 4-1 Champions League defeat to Como on October 21. Fernandes openly questioned the team's approach, arguing that the coaching staff's decision not to press opponents more aggressively had allowed Como to dominate possession and build confidence.
“We started on the wrong foot and they scored very early. We are not getting the results we want. We are not managing to get out of this situation and we have to do something to change that,” Fernandes said after the defeat.
The Portugal international also highlighted the team's passive approach without the ball.
“It is a decision from the staff not to press man-to-man and sometimes leave space behind and try to win the ball, to wait for them. But sometimes when you give these teams space, they gain confidence.”
Asked whether he was directly criticising manager Michael Carrick, Fernandes declined to take responsibility for the tactical decisions.
“That is for the manager and staff to assess, not me. Sometimes you have to be braver under pressure, take the risk of pressing high and making them uncomfortable.”
The comments increased scrutiny of Carrick and raised questions about the relationship between the manager and his captain. Fernandes was subsequently left on the bench for United's Premier League meeting with Bournemouth, although Carrick maintained that the selection decision was based on footballing considerations.
The wider uncertainty surrounding United could influence the midfielder's thinking, but there has been no confirmation that he wants to leave or that Al Hilal have submitted a formal offer.
The Saudi club are reportedly attracted by the possibility of recruiting an established international with extensive Premier League experience. A move would nevertheless depend on negotiations between the clubs, the player's wishes and the precise terms of his contract.
United must also consider the sporting implications of losing their captain. Fernandes has been a major creative influence since arriving from Sporting CP in 2020, and his ability to produce goals and assists makes him difficult to replace.
The reported £55 million figure would need to be weighed against the value of retaining one of the squad's most experienced players. An extension option could also give United greater control over the situation than the reported June 2027 expiry date alone suggests.
For now, Al Hilal's interest remains a reported transfer possibility. Fernandes' immediate challenge is to help United improve their performances, while the club must decide how to approach the future of a captain whose importance on the pitch has been matched by growing scrutiny off it.