Fernandez has been placed on a shortlist of targets for the summer window as City look to refresh in midfield.
The Citizens are assessing replacements for Bernardo Silva, whose exit from the Etihad at the end of the season has been confirmed.
Fernandez fits the bill as a potential replacement for Silva and has cast doubt on his future at Chelsea.
In March, he outlined a desire to live in Spain. amid rumoured interest from Real Madrid, and said 'we'll see' when asked if he would still be at Stamford Bridge next season. He was dropped from the squad for two games as a result of the comments.
The Athletic are reporting that Manchester City's interest in Fernandez is at an early stage, but he's a name under consideration.
City are also interested in Nottingham Forest midfielder Elliot Anderson, who is thought to favour a transfer to the club over Manchester United.
Fernandez joined Chelsea in a then-British transfer record £106.1m deal from Benfica in January 2023, a month after winning the World Cup with Argentina.
He has played 163 games for the Blues in all competitions, scoring 28 goals. However, the club's recent form has all but ended hopes ofChampions League qualification for next season, which could unsettle leading names. Chelsea are also conducting a search for a new manager after the decision to dismiss Liam Rosenior this week.
