The English publication states United will offer Fernandes a new deal worth £200 000 per week, equating to £28 600 (R600 000) per day, with add-ons based on appearances, goals and trophies.
The improved deal would see the Portuguese midfilder move above club captain Harry Maguire in the club's salary ranking, but stay behind the likes of David De Gea and Paul Pogba.
