Fernandes staying with Benfica 
The Portugal Under-21 midfielder has been starring in the European Championships in Holland, but will not be returning to the top flight this summer.
Fernandes spent the first five months of last season on loan at Portsmouth from Benfica, and the final four on loan at Everton.
But because of issues relating to his ownership by a third party, Benfica demanded in excess of £12million for him - a fee which put off the two potential suitors.
Fernandes told the Daily Express: "I'm back at Benfica now, it's finished for me in England. I enjoyed it, it was a great experience."