Paddy Jackson and Stuart Olding were reportedly given hefty pay-offs from the IRFU as part of the decision to revoke their contracts.
Yesterday, reports arrived saying the players, who were acquitted of rape at a trial in Belfast last month, are to depart the Kingspan Stadium.
Jackson and Olding were both found not guilty of rape and were acquitted of all charges.
Lopez has been sidelined for the majority of this season with a broken ankle while Fernandez has struggled as the incumbent playmaker with Clermont winning just 10 games so far this season.
It would appear, and I am entitled to make the assumption given Olding's comments in a statement after the IRFU decision, that other factors resulted in the outcome.
"As I said outside court following my acquittal, I am and will always be fiercely proud of having played for my province and country".
On Saturday, it was announced that Paddy Jackson and Stuart Olding had had their contracts revoked by the IRFU with immediate effect.
The trial was controversial for the treatment of the alleged victim, who can not be named for legal reasons.
"As the representative body for Ireland's professional rugby players, we will now take time to examine the way the review process was carried out by the IRFU".
"The treatment that I have received since my acquittal, both fair and unfair, has made me even more determined to prove myself", he said.
"With the support of my family and friends I shall seek new challenges elsewhere".
"I am very sorry that this day has come to pass".
The Sunday Independent can also reveal that representatives for Mr Jackson will talk this week with a number of clubs who want to sign him.
A number of the club's main sponsors expressed concern at the fallout following the court case and called on it to conclude its review swiftly.
A joint statement was issued by both bodies earlier this morning.
26-year-old flyhalf Jackson has made 25 appearances for Ireland since 2013, while 25-year-old Olding has made four.
The pair, like their team mate Craig Gilroy, who was implemented only because of a private message he had sent, should have had a sanction imposed.