It has been reported that Everton have made an offer of €15 million (£13.48 million) for the 22-year-old Brazilian midfielder.
However, according to the report, Sporting are unlikely to accept that bid, as the Portuguese giants are looking for €20 million (£17.97 million) and above for the player.
Although Everton are the first club to make a move for the youngster, Nice, Napoli and Fiorentina are also interested in him, according to the report.
According to WhoScored, Wendel has made 18 starts and one substitute appearance in the Portuguese league for Sporting so far this season, scoring two goals and providing one assist in the process.
The youngster also provided one assist in six Europa League matches for the Portuguese giants this campaign, according to WhoScored.
During the 2018-19 campaign, the 22-year-old made 20 starts and one substitute appearance in the league, scoring one goal and providing one assist in the process, according to WhoScored.