City have signed Elliot Anderson from Nottingham Forest for £116 million but sources have indicated that adding another midfielder remains one of City’s big talking points internally, as preparations continue for the club’s new era.
The search has been an ongoing discussion point ever since Enzo Maresca was identified as the man to succeed Pep Guardiola, with the incoming boss playing a significant role in reshaping the squad to suit his vision.
Fernandez is among the players City have continued to track closely, while they also hold his Chelsea teammate Malo Gusto in high regard.
Argentina international Fernandez is currently preparing for a World Cup semi-final against England, but has a big decision to make on his club future soon.
He has previously shown the strongest interest in a move to Real Madrid, but the Spanish giants have cooled their pursuit in recent months.
Flashscore understands that Chelsea’s valuation of around £120 million has been a major stumbling block, with Madrid unwilling to meet that price.
Chelsea remain hopeful that Fernandez can be convinced to stay at Stamford Bridge and refocus ahead of next season. The club would even be prepared to discuss improved contract terms if he commits his long-term future.
However, there are concerns that the midfielder is ready for a fresh challenge and is still seeking a move.
That uncertainty is one of the key reasons City have maintained a close watch on the situation. Should it become clear that Fernandez wants to leave Chelsea while remaining in the Premier League, City would be prepared to explore whether a deal could become possible.
Alongside their interest in Fernandez, City have also maintained contact for other players - including a potential move for Lille teenager Ayyoub Bouaddi.
The highly-rated French midfielder is regarded as one of Europe’s brightest young talents, but City are aware they face stiff competition across Europe.