It is a transfer saga that might run long into the summer. Will Mateus Fernandes stay or go?The 21-year-old Portugal international is expected to be sold to help fund the club’s recruitment amid interest from Paris Saint-Germain and Manchester United.However, sources with knowledge of the situation say West Ham are desperate to keep Fernandes for one more year to help them seal promotion at the first attempt. West Ham’s intend to value Fernandes at £80million, and they are yet to receive any approaches. Whatever happens, it promises to be a busy window in east London. Preparation is already underway for life in the second tier, which West Ham have not played in since 2011.The information found within this article has been gathered according to The Athletic’s sourcing guidelines. Sources with knowledge of transfer dealings, who asked to be kept anonymous to protect relationships, have been spoken to before offering the clubs involved the opportunity to comment.Here is what to expect in the forthcoming months at the London Stadium.Who will make key decisions this window?They will be spearheaded by Nuno Espirito Santo, an impending director of football, and majority shareholder David Sullivan. But the head coach will have a major say on incomings.In January, Nuno convinced Taty Castellanos, Pablo Felipe, Adama Traore and Axel Disasi to join the club. Following the confirmation that Nuno will remain at the helm, the Portuguese will also play an important role in the appointment of the director of football.The recruitment department — which has just lost Max Hahn — of European scout Georges Santos, lead senior scout Adam Clarke, first-team scout Simon Gillett, recruitment analyst Dylan Curnell and others, will assist with data profiles of transfer targets.Mateus Fernandes was unable to save West Ham from the drop (Julian Finney/Getty Images)What is the manager’s priority?In an interview with West Ham’s in-house media team published this week, Nuno discussed the traits he is keen to see from the squad and potential incomings.“It’s a very hard competition, very demanding (the Championship),” Nuno told the club’s official website. “We have 46 games, probably even more. The cycles of the weeks are different but there are things that don’t change. Commitment, be resilient, disciplined, brave. We need a lot of character.“These are the fundamental pillars that I believe that every team should have. The commitment, the respect, the ambition, the character, the discipline, the belief, the togetherness, the unity. All these things that we’ve been having here at the club, we must do it better.”Are there any specific players they are targeting?High on West Ham’s list of targets is Sheffield United midfielder Sydie Peck.The 21-year-old, whose contract expires in the summer of 2028, scored five goals in 40 appearances last campaign. Peck was shortlisted for the Championship young player of the season award.England Under-21 international Sydie Peck made his Sheffield United debut in 2023 (Jasper Wax/Getty Images)West Ham have been scouting Peck since January and believe he has huge potential. Nuno’s midfield current options are: Fernandes, Tomas Soucek, 31, Soungoutou Magassa, 22, Mohamadou Kante, 20, and academy graduate Freddie Potts, 22. James Ward-Prowse, 31, and Edson Alvarez, 28, have been on loan at Burnley and Fenerbahce respectively, with the latter’s deal with the Turkish side containing a purchase option.The club have a good track record of signings from the EFL, with Jarrod Bowen, Michail Antonio, and Aaron Cresswell recent examples. There is also interest in Cardiff City defender Dylan Lawlor, 20.In January, Traore joined on a permanent transfer from Fulham. He is in the final month of his contract but West Ham are hopeful he will sign a new deal.The club have activated their £1million option to sign Keiber Lamadrid. In January, the 22-year-old winger joined on loan from Venezuelan side Deportivo La Guaira. A clause in the deal meant they could make the deal permanent in the summer. Lamadrid made his first-team debut in the FA Cup fourth-round win against Burton Albion.Who will they be looking to sell?West Ham are desperate to keep Fernandes and Bowen, but Crysencio Summerville is expected to be sold. The 24-year-old winger, who made his senior debut for the Netherlands against Algeria on Wednesday night, has attracted interest from Europa League winners Aston Villa.The club will listen to offers for Alphonse Areola, Jean-Clair Todibo, Maxwel Cornet and Niclas Fullkrug. Areola lost the No 1 jersey to Mads Hermansen, Todibo has clashed with Julen Lopetegui, Graham Potter and Nuno, while Cornet and Fullkrug had loan spells at Serie A sides Genoa and Milan respectively last season.West Ham are braced for offers for promising midfielder Kante. The 20-year-old, whose valuation is in the region of £15m-£20m, has attracted interest from clubs in Ligue 1. Nuno has been impressed with Kante and prevented the youngster from going out on loan in January. Kante, who joined from Paris FC in 2024, made 11 league appearances last season. The French side are not entitled to a sell-on fee should Kante leave West Ham.Will anyone be earmarked for a loan away?Kevin Keen is responsible for sorting out loans for academy prospects. Airidas Golambeckis, 18, Finlay Herrick, 20, Preston Fearon, 19, Lewis Orford, 20, and Kaelan Casey, 21, are all expected to gain much-needed first-team experience next season.Goalkeeper Herrick, who made his first-team debut in the FA Cup quarter-final loss to Leeds United, made 10 league appearances during a short-term loan last season at non-League side Boreham Wood. Orford had a sojourn at League One side Stevenage while Casey made a combined total of 24 appearances across two spells at Swansea City and Leyton Orient.Youngster Ezra Mayers, 19, who was named the club’s young player of the year, is not expected to leave on loan. Nuno handed the England Under-19 international his first-team debut in the 1-1 draw against Brighton & Hove Albion in December.George Earthy, 21, faces an uncertain future. At the turn of the year, West Ham activated the one-year option in Earthy’s contract before he re-joined Bristol City on loan. The midfielder had an initial spell at Ashton Gate in the 2024-25 season where he made 40 appearances across all competitions, but following his return there in January, he only made 10 league appearances, two of which were starts.What sort of budget do they have and what is their SCR position?The Athletic have reported previously that West Ham need to raise £150m in player sales.Selling key and fringe players will be vital for the club to fill the financial void that relegation has caused. This is all months on from when the club announced that they had lost £104.2m ($140.6m) pre-tax, the worst financial result in their 130-year history.It is no surprise West Ham are keen to get the maximum fee from their most saleable assets.