Del Horno, 25, joined the Premiership champions from Athletic Bilbao last summer but has struggled to hold down a regular place in Jose Mourinho’s side.

Valencia sporting director Amedeo Carboni said: “We are in negotiations with Chelsea and we hope to solve the situation this week.”

Manchester United winger Cristiano Ronaldo has also been linked with a move to the Mestalla.

United are determined to keep the Portugal winger with several Spanish clubs keen to lure the 21-year-old to the Primera Liga.

Carboni admitted his club have yet to make a move for Ronaldo although media reports suggest that the Valencia executive will meet with the player’s agent, Jorge Mendes, sometime this week.

“I have read what the player said regarding his wish to play in the Spanish league next season,” said Carboni. “Many clubs have made a move but for the time being, we are not one of them.”