Valencia are preparing a new contract for Jose Gaya, after interest from Premier League side Arsenal.
The young Spaniard has been heavily impressing since he made his senior debut for Valencia in 2012 against UE Llagostera in the Copa del Rey.
His performances at the Mestalla have seen a number of top European clubs show interest, including Arsenal, whom boss Arsene Wenger is said to be extremely keen on making a £15m deal for the 19-year-old.
However, according to Spanish daily AS, Valencia have now prepared a new contract for the teenager.
The new deal will see his current buy-out clause increased and his salary improved due to his form.
The full-back spoke to reporters recently about his future and said that he was relaxed over the situation.
“I’m relaxed, I’m in good hands and I have three years remaining on my contract.
“The fact that they’re talking about my contract renewal is a symptom that comes from my good performances and that I should continue doing what I’m doing.”