Manchester City and Chelsea were last night put on alert after Valencia conceded they may finally have to sell star striker David Villa.
The Spanish club's chief executive Javier Gomez has revealed they are battling a severe cash crisis, with around £400million owed to the banks.
Asked about selling Villa - the top scorer at Euro 2008 - Gomez said: "Obviously we will consider that type. We have to control costs."
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Valencia have been forced to delay payments to players, while construction work on a new stadium has ground to a halt.
As City were ready to shell out £100m for AC Milan's Kaka, Valencia hope to command a huge fee for Villa and international team-mate David Silva.
Chelsea owner Roman Abramovich is also ready to sanction another huge spending spree in the summer to revamp the side and compete with Manchester United.
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