The Southampton star, 33, handed in a transfer request today as he bids to leave St Mary’s.
Fonte is represented by super agent Jorge Mendes – the same man who’s in charge of Jose Mourinho.
Paddy Power have reacted by pricing Fonte to move to Manchester United at 2/1.
Liverpool are the 3/1 second favourites as they look to strengthen their defence.
They had previously been eyeing up Fonte’s centre-back partner Virgil van Dijk.
Manchester City (5/1), Benfica (8/1) and Tottenham (10/1) are also in the bookies’ mix.
Fonte has 18 months left to run on his current deal, which he signed in October 2015.
Southampton’s director of football Les Reed told BBC Radio Solent: “He’s had several opportunities to improve the contract situation.
“He’s made it very clear he would like to explore the opportunities for a transfer.
“That’s where we are at the moment, Jose wants to leave the club. He’s formally asked for a transfer.”
Fonte wrote on Instagram last month: “Just to set the record straight I did not reject a new contract. In fact, I have been informed by Southampton that they are not offering me a new contract.”