Jose Gaya is set to disappoint Chelsea, Arsenal and Real Madrid by agreeing a new deal with his current club Valencia.
The 19-year-old is considered one of the brightest prospects in La Liga but looked set to leave Valencia after refusing to extend his current contract.
With a release clause of £13million, Valencia knew that the cream of European clubs would not hesitate to activate it this summer.
Chelsea saw Gaya as a perfect replacement should Filipe Luis return to Atletico Madrid while Arsenal were also looking for reinforcements in that area.
Real Madrid would have been the clear favourites to sign him as Floretino Perez's project to snap up the best of Spain's young talent showing no signs of abating.
However, the player himself has now revealed that he is on the verge of agreeing a new deal with Valencia.
The new contract will increase his release clause to £30m and should keep the likes of Chelsea and Arsenal at bay for the next couple of seasons.
He told Spanish newspaper AS: "My renewal is at an advanced stage.
"Everything's going well and there are only a few minor details that need tying up."
Has Gaya made the right decision by staying at Valencia or has he missed his big chance to play for one of Europe's elite?
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