Manchester City have not ended their pursuit of the 25-year-old, despite failing to meet Chelsea’s deadline earlier this month to complete a deal for a minimum fee of £120m.
The Citizens’ midfield has seen major changes during the summer transfer window.
Bernardo Silva departed on a free transfer at the end of June. Tijjani Reijnders has been sold to Saudi Pro League side Al-Qadsiah for £52m, while Rodri has completed a £65m move to Barcelona.
Nico Gonzalez is also close to joining Newcastle United after a £52m agreement was reached.
City brought in Elliot Anderson for a club-record fee of £116m before later confirming the arrival of Ayyoub Bouaddi.
The club have now turned their attention to Fernandez. To finalise the transfer, they would need to break their own transfer record once again.
New manager Enzo Maresca is understood to be eager to link up again with the midfielder after working closely with him during his spell at Chelsea.
Fernandez has greatly improved his standing since moving to the Blues from Benfica in 2023.
Across all competitions, he has played 170 matches, scoring 31 goals and providing 30 assists.
Fernandez is widely known for his range of passing, tactical awareness and his capacity to dictate the tempo of a match.
Stats from Transfermarkt.
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