The 21-year-old midfielder has been emerging as a big talent in Argentinian football while paying one of the biggest clubs in the country in River Plate.
His performances have also piqued the interest of clubs across the pond and several major European clubs are considering taking him to one of the top leagues in Europe.
Manchester City are interested in Fernandez but it has emerged that they face heavyweight competition for his signature.
According to Argentine outlet TYC Sports, Manchester United and Real Madrid have been keeping close tabs on his development ahead of the end of the season.
Both clubs have held talks over potentially signing him but are yet to make any formal offers.
A scout from England was recently in Argentina to watch the player in action as interest in Fernandez firms up.
He has a €20m release clause, which will rise to €25m after a certain period of time in the coming days.
Fernandez, 21, has represented Argentina in youth football but is yet to make his debut for the senior team.
