West Ham United have reportedly emerged as the favourites to sign Benfica midfielder Gedson Fernandes.

While the Hammers have previously been suggested as the player's preferred destination, interest from Chelsea has resulted in a tug of war for the 21-year-old.

Previous reports have indicated that the two London outfits are prepared to put together an 18-month loan proposal, with the option of pushing through a permanent deal should a specified number of appearances be made by the Portugal international.

However, Sky Sports News says that West Ham may now sign Fernandes until the end of next season without the obligation of paying a big fee in 2021.

Benfica officials are allegedly due to hold discussions about the proposal deal on Thursday, leaving open the possibility of the transfer being completed in the next 24 hours.

Manchester United, Everton and Wolverhampton Wanderers have also been linked with Fernandes since the turn of the year.