Reports from Portuguese publication O’Jogo claim Sporting Lisbon believe they will receive an opening bid from Manchester United today.
The Premier League club will then start the real negotiating for the midfielder as they try and land their third signing of the summer.
O’Jogo report that United will start their bidding at £49.5m (€55m) and will enter talks over completing a deal.
Fernandes could be United’s third summer signing, although it is believed a deal for Harry Maguire is also in the works.
United have so far signed Daniel James and Aaron Wan-Bissaka as part of Ole Gunnar Solskjaer’s summer revamp.
However the Norwegian is keen to add more quality to his side after they finished sixth last season.
A centre-back and central midfielder would just about sort Solskjaer’s squad conundrums before the kick off of the new season.
Although the issues with Paul Pogba and Romelu Lukaku still need resolving, and if either do leave they would need to be replaced.
Although Fernandes, plus potentially Sean Longstaff would fill the void in midfield with Scott McTominay set for a bigger role in the team.
The young Scott has come out fighting over his place despite links to Fernandes and Longstaff.
He said: “Regardless of what other signings come in or who plays where, you have to back yourself to be a Manchester United player.
“That’s one thing that I’ve done over the last two years, I’ve always backed myself.
“I’ve tried to train hard and I’ve always wanted to do extra things to try and give me that one per cent difference.
“When it comes to crucial times in big games like Barcelona or PSG in the Champions League, it’s important that you’re ready for them.
“I’m ready to be a regular starter. That was my goal two years ago and last year, it’s always been my goal.
“My main ambition is to be a regular No 6, No 8, a box to box player – and it’s important that I really go for that now.
“Obviously there is an opportunity there and you’ve got to take it with both hands.
“Last year I had some decent performances and it’s important that I carry on from that. We’re in the Europa League this year and it’s important that I continue.”
But the move for Fernandes looks to be picking up steam and could be accelerated in the coming days as United make contact with the Portuguese club.
PSG are also thought to be in the mix for the 24-year-old which could mean United having to pay more than they’d like to secure the deal.