Chelsea striker Michy Batshuayi's loan at Valencia is to be terminated, with the Belgium striker's exit being negotiated, the Spanish club said on Thursday.
Valencia's general director Mateu Alemany said discussions over Batshuayi, who has fallen out of favour at Stamford Bridge, depend on "various other clubs".
Alemany said on marca.com: "Batshuayi's situation is very clear. We are negotiating the player's exit with various other clubs.
"I expect he will leave in the coming hours or days. The player knows he is leaving, we told him some weeks ago.
"We hope that, for his sake, this can be resolved as soon as possible. He is leaving and it's now a matter of negotiation."
Following the January 2 goalless draw with Southampton, Chelsea head coach Maurizio Sarri dismissed the idea of recalling Batshuayi, who scored the decisive goal in the 2016-17 Premier League title success and spent the second half of last season on loan at Borussia Dortmund.
Sarri, who turned 60 on Thursday, said he wanted a striker with different "characteristics", amid repeated rumours he wishes to be reunited with Gonzalo Higuain, the Argentinian who thrived under Sarri at Napoli.
Chelsea on Thursday declined to comment on a report Sarri and club representatives had met with Higuain's agent. The 31-year-old is currently on loan from Juventus at AC Milan.
Alvaro Morata, who joined Chelsea in a £60million deal in July 2017, has been linked with a move away from Stamford Bridge.
Sevilla and Atletico Madrid are among the clubs linked with a loan move, with reports suggesting Morata would be unhappy to be used as a make-weight in any deal for Higuain.
Atletico boss Diego Simeone on Thursday declined to discuss the matter.
Meanwhile, Cesc Fabregas' anticipated move to Monaco is still to be completed, with Chelsea seeking a replacement.
And the Blues' stance on Callum Hudson-Odoi is unchanged, with Sarri, Gianfranco Zola and others all speaking publicly of late to express hope that the 18-year-old signs a new contract amid interest from Bayern Munich.
Hudson-Odoi's current deal expires in June 2020.
Chelsea next play Newcastle in the Premier League on Saturday.
