Fati is on-loan at Brighton this season from Barcelona, with the Seagulls deciding against pursuing a permanent deal.
Barca also have no plans to keep Fati next season.
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Instead, Sport says Valencia and Sevilla are showing interest in Fati.
Both La Liga clubs want to loan the 21-year-old over next season.
If Fati wishes to stay in the Premier League, however, his agent Jorge Mendes could use his contacts and place him at Wolves this summer.