The midfielder’s current deal, which he signed in 2022, expires in 2026.
It is possible an announcement could be made before the transfer window closes on 30 August, but the main focus of United’s hierarchy at present is on concluding deals that have to meet that deadline.
Fernandes replaced Harry Maguire as club captain in 2023 and Erik ten Hag has kept faith in the midfielder, despite coming under intense criticism at times from former United skippers Gary Neville and Roy Keane.
The 29-year-old was not placed among the ‘untouchables’ United were unwilling to listen to offers for this summer.
However, a sale was always likely to be based on a bid the club found impossible to turn down, which has not materialised.
Fernandes cast doubt on his future at Old Trafford before May’s FA Cup final, saying he wanted his own expectations to fit those of the club as a whole.
The midfielder played 90 minutes on Saturday as United were beaten on penalties following a 1-1 draw in the Community Shield against Manchester City.
United are close to completing the double signing of central defender Matthijs de Ligt and full-back Noussair Mazraoui from Bayern Munich.
In addition to the arrivals of Leny Yoro from Lille and striker Joshua Zirkzee from Bologna, that would take United’s spending this summer to almost £140m.