Sporting Lisbon president Frederico Varandas has claimed that Bruno Fernandes's value could have plummeted to as low as £18m since his move to Manchester United.

Fernandes ended a drawn-out transfer saga when he joined the Red Devils in a £57m January deal, and the midfielder has enjoyed an encouraging start to life at the club with three goals and four assists in nine outings across all competitions.

However, the coronavirus pandemic has seen player values slashed and Varandas believes that Sporting may have only been able to get around €20m (£17.7m) for Fernandes if they sold him now.

"The crisis caused by Covid-19 harms the European football industry in general, but, of all countries, Portugal is the most affected, because 50% of revenues come from the sale of players," Varandas told RTP.

"Bruno Fernandes, for example? He was sold for €65m in January. Today, what would he be worth? Maybe €20m? €30m? Nobody knows."

Fernandes won the Premier League Player of the Month award for February and is yet to taste defeat in a United shirt.