Valencia have opened talks with Ajax over the transfer of Gregory van der Wiel - a reported target for Chelsea and Liverpool.
According to reports in Spanish newspaper Superdeporte, the 23-year-old Dutchman will be offered a five-year deal in Spain, and the La Liga outfit are waiting to hear back from the Eredivisie outfit.
Van der Wiel is valued at €10million, and with his contract due to expire in 2013, there has been plenty of speculation linking him with a move away from Amsterdam - with Liverpool and Chelsea both believed to be interested in bringing the defender to the Barclays Premier League.
Reds boss Kenny Dalglish is looking to strengthen his backline at Anfield, and is believed to be weighing up a January bid for the Holland star.
Meanwhile Blues boss Andre Villas-Boas is also on the lookout for defensive reinforcements when the transfer window reopens, and could rival Liverpool for van der Wiel's signature and attempt to lure him to Stamford Bridge.
However, any potential move to Liverpool or Chelsea has now been called off, after the player's agent Hakim Slimani revealed his client will not be moving anywhere in January - but could join Valencia at the end of the season.
"Valencia is the ideal club and Gregory was already looking for a move to Spain," he told De Telegraaf. "It's now up to the clubs but I expect both sides to reach a deal.
"The chance of him leaving Ajax in the winter break is small but you never know. Usually it's about a transfer at the end of the season."