Masilela spent the past campaign on loan at the Azulones from Israeli outfit Maccabi Haifa, and the Spaniards could be set to make use of their option to make his stay permanent.
However, Masilela's representative, Mike Makaab, says that while Getafe have until the end of June to exercise that option there are also other rival clubs interested in the 27-year-old's services.
"As you know he was on loan at Getafe and they have an option to buy him outright from Maccabi Haifa," Makaab told Football411.
"Getafe have until the end of June to exercise that option, but there is also interest in Tsepo from a few other clubs in Spain. If you ask me where he will be the most likely place will be in Spain with one of the La Liga teams and we will know more in the next seven days."
He added: "If Getafe decide to exercise the option then Tsepo will become their player on a permanent basis, but as I said there is also interest from other Spanish teams."
Masilela was also recently linked with a move to Kaizer Chiefs.