Valencia reportedly table a £12m bid for Arsenal midfielder Francis Coquelin, who is also wanted by West Ham United and Crystal Palace.
The Gunners indicated that they are willing to offload the Frenchman when manager Arsene Wenger left him out of the squad that lost to Nottingham Forest in the FA Cup on Sunday.
Coquelin has dropped down the pecking order at the Emirates, which has limited his game time this season to seven Premier League appearances, only one of which was a start.
According to The Mirror, Valencia have made the first move by offering £12m for the midfielder's services, but West Ham United and Crystal Palace also hold an interest.
Coquelin came through the North London outfit's youth ranks and has been part of the club since 2008.
Arsenal 'open to Coquelin offers' >