Valencia have withdrawn their offer of an extended contract to left-back Jose Luis Gaya, according to SuperDeporte.
The reason given is that the club are unable to reach agreement with the 19-year-old’s representatives, who have refused to endorse the player signing a new deal that would see his release clause raised from €18m to €40m.
Gaya is unwilling to sign anything that values him at over €30m and will further fuel the rumours he could be set to join Real Madrid in the summer.
The Alicante-born defender’s current contract expires in 2018 and Los Che have been keen to tie him to the club until June 2021.
