But the Baggies will wait to see what happens over the next few months before finalising plans for any future signings.
Krovinovic joined Albion on loan from Benfica in the summer and had made 34 appearances for the club before football was suspended due to the coronavirus outbreak.
The Croatian’s performances got stronger as the season progressed – with the 24-year-old particularly impressing after switching to a deeper, central midfield role.
The original loan that took Krovinovic to The Hawthorns did not include an option to buy.
Last week, though, reports emerged in Portugal that Benfica are willing to allow Krovinovic to leave when the 2019/20 season comes to an end.
It was claimed the Primeira Liga side want in the region of £10million for the player, but that fee is open to negotiation.
Having agreed a deal of £9million for Matheus Pereira with fellow Portuguese side Sporting Lisbon, Albion will want to bring that price down.
But they do want Krovinovic to be a Baggies’ player next season – particularly if they go on and win promotion to the Premier League.
Head coach Slaven Bilic is understood to be a huge admirer of his fellow countryman who is rapidly becoming a fans’ favourite.
The 24-year-old is also a key and popular figure inside the dressing room.
Meanwhile, Albion have confirmed The Hawthorns has been closed due to the coronavirus pandemic with early bird season tickets currently not on sale.
Fans wanting to renew their tickets had until April 17 to do so.
But that date has now been scrapped with a lot of supporters understandably worried about their incomes.
The Baggies had frozen season ticket prices for a third successive year – despite the fact they could be in the Premier League next season.
The club hopes – when football does return – they will be able to set a new early bird deadline.
Albion will then aim to promote that deadline four weeks in advance to give supporters enough time to renew.