As part of the agreement, Benfica holds an obligation to buy Fernandez if he meets a certain appearance threshold, with an additional option to buy if the obligation is not triggered. United, in turn, has included a buy-back option and a sell-on clause in the deal.

Fernandez, aged 20, spent the first half of the season on loan with Spanish side Granada. However, he was recalled to Old Trafford earlier in the window after activating a break clause in the loan agreement.

The confirmed move sees Fernandez immediately go back out on loan, joining Benfica for the remainder of the season. There is an understanding that an option to buy is included in the deal, potentially leading to a permanent transfer in the upcoming summer transfer window.

Since joining Manchester United from Real Madrid in September 2020, Fernandez, a left-back, has been recognized for his contributions. He received the Denzil Haroun Reserve-Team Player of the Year award in 2022 and played a significant role in pre-season matches for the first team.

Fernandez spent the previous season on loan with Championship side Preston North End, where he played a crucial role in helping them secure a 12th-place finish. Following his recall from Granada, Fernandez expressed gratitude on Instagram, acknowledging the special but shorter-than-expected stay at the Spanish club.