The Portugal international is nearing the end of his first season at Craven Cottage having proven to be one of the top signings of the 2022 summer transfer window.
Palhinha has chipped in with three goals from 26 starts in the Premier League, yet it is his all-round influence that has made the biggest impact at the West Londoners.
Instead of being relegation candidates, Fulham have challenged for European qualification throughout the season, but that bid has dropped off in recent weeks.
Courtesy of a four-match losing streak in the Premier League and the eight-game ban for Aleksandar Mitrovic, Fulham now sit in 10th spot, seven points adrift of seventh place in the standings.
Although a mid-table finish would still be deemed as relative success for Fulham, Palhinha's performance have ultimately put him in the shop window.
While he holds a contract until 2027, Fulham will recognise that there is an opportunity to at least double the fee, believed to be in the region of £20m, that they paid Sporting Lisbon ahead of 2022-23.
According to The Sun, Man United are ready to up their interest in the 27-year-old as they look to strengthen in the centre of the pitch.
United may make their move in the coming weeks, although they are said to be aware that Fulham could be prepared to demand in the region of £60m.
The Red Devils are in a position to offset some of that fee with the sale of Scott McTominay, who is allegedly open to departing Old Trafford in the summer.
From Fulham's perspective, Silva is said to be a big admirer of Porto's Mateus Uribe and could target him as a replacement for Palhinha.
The 32-year-old, who has contributed 14 goals and seven assists in 167 outings for the Portuguese giants, is in line to be available on a free transfer at the end of his contract.
Nevertheless, Fulham will allegedly face stiff competition for the Colombia international with Atletico Madrid and Lazio also said to be monitoring the situation.