Fernandez, 25, spent much of 2025-26 talking up a potential move to the Santiago Bernabeu as Chelsea struggled over the second half of the season.
Real Madrid have been linked with a move for the 2022 World Cup winner, but their interest has appeared to cool over recent weeks.
According to Mundo Deportivo, with Mourinho’s appointment made official, Fernandez is back on Real Madrid’s radar.
It’s understood that Chelsea aren’t actively looking to sell Fernandez, but should an offer of £120 million come in, a deal will likely be struck.
Mourinho is looking for the club’s ‘new Toni Kroos’, and is also interested in West Ham Mateus Fernandes, although Man United look a more likely destination for him.
