Barcelona, Real Madrid, Atletico Madrid fits assessed
Barcelona deploy a high line under boss Hansi Flick, and Romero could be suited to such a system given he is at his best when on the front foot.
His injury issues could be problematic considering Barca's style of play is intense, but his experience as a World Cup winner could prove vital in the latter stages of the Champions League.
Atletico Madrid have lacked elite centre-backs for a number of years, which perhaps explains why they have failed to seriously challenge for the title in the last four seasons.
Real Madrid will need leadership in their backline to aid the development of 20 year old Dean Huijsen, but with uncertainty regarding the club's managerial situation following Xabi Alonso's dismissal, Romero may be reluctant to agree to move to the Bernabeu.
Troubling future for Tottenham Hotspur?
Micky van de Ven has been consistently linked with a move away, and losing both starting centre-backs would put the club in a difficult position in the summer.
Even if Van de Ven was to remain at Spurs, he has frequently suffered injuries, and he has not proven reliable from a fitness perspective.
If Tottenham can convince Romero to stay for at least another season, perhaps they would be better able to plan for a future with new starters in central defence without risking a crisis in the backline.