Portuguese outlet O Jogo report that both Chelsea are and Atletico Madrid are fans of the player.
Both clubs have reportedly made checks on the midfielder recently and have been impressed with his performances this season.
The report states that both teams have enjoyed ‘positive observations’ of the player.
Fernandes has bagged himself 18 goals for Sporting in all competitions and that has not gone unnoticed.
The Portuguese midfielder has been linked with a move to Chelsea for some time, but the Blues now appear ready to step up their interest.
With concerns rising over Sarri’s position as Chelsea head coach, speculation about Fernandes’ future may become clearer in the summer if and when the Blues make a decision about the Italian’s situation.