The 24-year-old, who arrived at Ibrox from League One side Peterborough United for around £3.5 million last year, has developed into one of the standout centre-backs in the Scottish Premiership.
Rangers are expected to demand a significant profit should they decide to sell the Nigeria international during the current transfer window, following an impressive debut season in which he scored five goals in 27 league appearances and won the club’s Player of the Season award.
His performances also earned him three caps for Nigeria.According to French outlet Ouest-France, Fernandez is one of three central defenders on Rennes’ shortlist as they assess reinforcements for their backline ahead of the new campaign.
Rennes are not alone in their pursuit, with Feyenoord, Bayer Leverkusen and Borussia Dortmund also closely monitoring the highly rated defender.