Portuguese newspaper A Bola reports that Porto are ready to cash in on the midfielder in January.
The 26-year-old is nearing the end of his contract and have been linked with the likes of Juventus and Inter Milan over the summer.
United boss Moyes have joined the race and is ready to make a cut price move for the midfielder in January.
Fernando has yet to make his Brazil debut and is close to winning Portuguese citizenship.
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Summer 2016 is set to be a very exciting time for football fans, as this is when the long awaited Euro 2016 tournament kicks off.
Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.