Romero, 26, joined Getafe on loan from Brugge in January and became one of the driving forces behind a remarkable second half of the season. He made 15 appearances and scored one goal, with manager José Bordalás installing him immediately as a starter.
The Argentine centre-back's performances were central to a run that saw Getafe qualify for the UEFA Conference League for the first time in the club's history.
Bordalás, who recently confirmed his own contract extension, has pushed strongly for Romero's return. Brugge paid approximately €5.5m to sign Romero from Estudiantes de La Plata in 2024, and the Belgian side has warmed to a permanent sale after he failed to establish himself at the club before the loan move. He is contracted in Belgium until 2028.
Club president Ángel Torres signalled in recent days that the majority of January's loan arrivals would be returning permanently.
"We have to sell to buy. The sporting directorate is working to bring in players. Of the January reinforcements, all but one will possibly come back," Torres said.
The fee of around €5m is above Romero's current market valuation but reflects the premium Brugge can command having seen his stock rise sharply during his time in La Liga. A deal would represent a near break-even outcome for the Belgian club on their original investment.