Valencia have admitted that it is still possible that Juan Mata could leave the club this summer.
The 23-year-old playmaker, who stared for Spain during their Under-21 European Championship victory earlier this summer, has been linked with a move to the Premier League throughout the summer.
However after Arsenal were warned off the Spanish international, they could renewed their interest, with the La Liga side willing to consider an offer.
"The possibility exists that Mata will leave the club," said Valencia coach Unai Emery.
“We want him to stay and Mata has also expressed his desire to stay at Valencia, but at the same time we cannot stop a player who really wants to leave for money or for a bigger club.
“So, if there is a large financial offer from any club, that is good for both us and him, we will have to let him leave.”
With Cesc Fabregas expected to leave for Barcelona, Mata would be an ideal replacement for the skipper at Arsenal.
The challenge now for Arsene Wenger will be bringing a player to Arsenal who in the past has signalled his intentions to stay with Valencia.
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