Valencia have reportedly turned down a Real Madrid offer of 45 million euros (66.5 million dollars) for Spain striker David Villa.
Real Madrid intended to pay for Villa through funds obtained from a likely transfer of Brazilian striker Robinho to Chelsea, Spanish radio station Onda Cero reported.
However, the troubled Valencia seems keen to keep its flagship player. Club officials were to meet with Villa's agent Jose Luis Tamargo on Tuesday.
Real Madrid has only signed Dutchman Rafael van der Vart this summer, and both coach Bernd Schuster and the fans have demanded more new faces.
Valencia, in turn, is going through financial turmoil, but coach Unai Emery has asked club officials to make every effort to keep Villa.
Last week, the club and Villa's agent reached a deal to increase the striker's pay, although they have put off finalizing it until this week. ( dpa )