The 21-year-old has emerged as one of West Ham United’s few bright points during a difficult campaign that could still end in relegation.
According to the Daily Mail, United are pushing ahead with talks as they explore midfield additions for next season.
Arsenal and Paris Saint-Germain are also said to be monitoring the Portugal Under-21 international closely.
Fernandes has impressed with his composure in possession and ability to progress play despite West Ham’s struggles throughout the season.
The midfielder’s omission from Portugal’s World Cup squad is also believed to make negotiations easier this summer, removing concerns over tournament disruption or a major increase in valuation.
United continue assessing younger profiles capable of fitting into a long-term rebuild under Michael Carrick. Fernandes is viewed internally as a player with strong technical qualities and significant room for development.
West Ham may now face increasing pressure to sell key players if relegation is confirmed.
The club’s financial outlook would change dramatically outside the Premier League, potentially forcing difficult decisions over some of their most valuable assets.
Fernandes still has admirers elsewhere in Europe too.
Arsenal remain attentive to opportunities in midfield as Mikel Arteta reshapes his squad after winning the Premier League title, while PSG are continuing their focus on younger talent with high resale potential.
Manchester United’s latest talks suggest they are determined not to fall behind in the race.