Chelsea's strikers will love playing with Juan Cuadrado if he does join, says Thierry Henry.
Manchester United boss Louis van Gaal has said that Darren Fletcher's proposed move to West Ham is off.
The 21-year-old moved to Stamford Bridge two years ago after struggling to force his way in to first-team reckoning at Barcelona.
Romeu, who has represented Spain at every youth level, has played 33 times for the Blues but missed the second half of last season with a serious knee injury.
He will now link up with Valencia ahead of the forthcoming season as Chelsea continue to send their squad players out on loan.
Romeu joins the likes of Marko Marin, Thibaut Courtois and Patrick van Aanholt in penning temporary moves away from west London but Romelu Lukaku, who impressed whilst on loan at West Brom last year, is still likely to remain a member of Jose Mourinho's squad at Chelsea.