The free-scoring midfielder, who bagged 31 goals last term, has been heavily linked with a move to England.
Manchester United have been the long-term favourites to nab Fernandes, who is valued at around £70m.
And Varandas has not been afraid to speak out regarding Sporting’s star man in recent weeks.
When quizzed over Fernandes’ future once again, the club chief revealed that he believes his side will be competitive next season – possibly hinting that the Portuguese side have already identified a replacement.
“What I know and the guarantee I can guarantee is that this Sporting will be ready to compete with our ambitions,” he said.
“Let’s be prepared for the new season.
“It’s important for new players to realise the global dimension of this club and feel the weight of the jersey they will wear.
“And this crowded stadium is proof that we have thousands of fans scattered throughout Europe and the world.”
Reports in Italy this week suggested Palermo attacker Aleksandar Trajkovski was the man Sporting wanted to replace Fernandes with this summer.
United boss Ole Gunnar Solskjaer is understood to be interested in the Sporting ace as a potential replacement for Paul Pogba.
But the two clubs are yet to agree a deal.
As for the type of fee Sporting are looking to receive for their key man, Varandas has a rough idea.
“It could be the most expensive sale of Sporting,” he told Radio Observer earlier this month.
“The most expensive so far was João Mário, for €40m (£36m).
“There have been only talks for Bruno Fernandes, for now.”
United have already signed Daniel James and Aaron Wan-Bissaka this summer.
Harry Maguire is said to be the next target on their transfer list.
But it looks like Newcastle have priced Solskjaer’s side out of a move for Sean Longstaff after demanding £50m for the 21-year-old.