Fred's agent has claimed talks are under way for the Lyon striker to join Brazilian side Fluminense.
The 25-year-old is keen to leave Stade Gerland and recently confirmed that he plans to seek a move back to his homeland in South America.
Fluminense and Fred are both eager to strike a deal, according to Fred's agent, with discussions currently ongoing.
Francis Melo said: "The officials of Fluminense got in touch with Lyon and they have had a conversation. There is real interest from Fluminense and Fred.
"Fred has been playing in Europe for more than four years so he is very interested in returning to Brazil so we are having conversations to see what chances exist for him to join Fluminense.
"The supporters of Fluminense can realistically dream about the chance of him signing because there have been important conversations."