The London Evening Standard reports that the Hammers regard the 21-year-old as potentially one of the best players on the planet within the next two years — an internal assessment that underpins the premium they are seeking, even as they face a requirement to raise in excess of £100m from player sales to comply with financial regulations as a Championship club.
Manchester United hold concrete interest in Fernandes. Both Champions League finalists Arsenal and Paris Saint-Germain have also been credited with pursuing the Portugal international.
The player joined West Ham United from Southampton for £38m last summer and demonstrated his quality in bursts despite the team's deteriorating season, registering five goals and four assists in 40 appearances and earning his first senior Portugal cap.
Fernandes was not selected for Roberto Martínez's World Cup squad — a double blow that followed relegation — but the club remain adamant his value has not been reduced by West Ham's fall to the Championship. His age, technical profile and the competitive nature of the interest around him support their position.
Crysencio Summerville is the other player West Ham expect to sell in significant volume. Whether those two sales — combined — can generate the funds required will determine how comfortable West Ham's Championship season is financially.