Speaking on his YouTube channel, the journalist outlined where talks currently stand between the player's camp and United.
"The contacts are going to continue in the next hours and days for Mateus Fernandes. Man Utd are there."
Romano explained that United have already made direct contact with those representing the player.
"Man Utd want to get the player, and are in direct contact with the player's camp. Fernandes is very keen on a move to Manchester United."
According to the report, personal terms are not expected to be the main obstacle in any deal.
"The discussions on the player side are going well, both with the player and his camp."
Instead, Romano said the situation now depends on negotiations between the two clubs over a fee.
"Now it depends on the club-to-club discussions with West Ham. They're starting at an £85m valuation for Fernandes."
The gap between the two clubs' valuations remains the key sticking point as talks continue.
"Ideally, they wanted £100m, but the expectation is they could close the deal at around £85m, not less than this."
Manchester United, for their part, are understood to be aiming for a lower figure as an opening position.
"Man Utd's initial discussion with those taking care of this deal is under £85m. So Man Utd want to spend less than this."
Fernandes has established himself as one of West Ham United's most important players since his move to the club, with his performances in midfield attracting interest from several leading Premier League sides.
United have identified the position as an area requiring reinforcement this summer, with the club looking to add further depth and creativity through the middle of the pitch.
West Ham, meanwhile, are understood to be prepared to negotiate but are determined not to let the player leave for a fee they consider below his true value.
Talks between the two clubs are expected to continue in the coming days as both sides look to find a figure that satisfies their respective positions, with Fernandes' own willingness to push for the move seen as a significant factor in United's favour.
The midfielder's representatives are understood to be working closely with United throughout the process, smoothing the path for an agreement even as the wider club-to-club negotiation remains unresolved.
Should a fee be agreed in the region currently being discussed, Fernandes would represent one of United's more significant outlays of the summer window as the club continues to reshape its midfield options.