The Portugal international is out of contract at the end of the 2026/27 season, but the Red Devils do hold an option to activate a 12-month extension on his present deal, to drag it on until June 2028.
United would prefer not to do things that way, as they want to renew the 32-year-old's agreement by mutual consent, and club officials have been locked in talks with his representatives since September.
If United cannot agree a fresh deal with their skipper, they will almost certainly activate that clause before the end of 2026, as part a wider plan.
However, the move to bring in Mauricio Pochettino as Michael Carrick replacement also changing things for all parties, with Fernandes ready to discuss his future with the new boss.
Pochettino wants to keep Fernandes in Manchester, but the club will not overextend in negotiations, and the former Sporting Lisbon midfielder faces a key decision on his next step.