Valencia insist that their bid to sign Simao Sabrosa from Benfica is still ongoing.
Reports over the weekend suggested that the Che had pulled the plug on the deal after attempts by the player's agent, Jorge Mendes, to try and increase the cost of the transfer.
Having agreed a deal with Benfica, Sabrosa flew to Spain to thrash out personal terms and was expected to be unveiled by the club at their pre-season photo call on Saturday.
However, no agreement was reached and reports in the Spanish press claimed that Valencia were left fuming after Mendes attempted to offer his client around other clubs at the last minute to try and secure improved terms.
Benfica chief Luis Felipe Vieira also weighed in by saying that the Spaniards had not valued Sabrosa highly enough with the wage package they had offered and the transfer seemed to have well and truly died a death.
However, Valencia have now denied any kind of ill feeling between the three parties involved and are adamant they are still looking to engineer a deal for the highly-rated 26-year-old.
"Valencia would like to clearly state that, given the recent reports that have been published, that we still maintain a very correct and fluid relationship both with Benfica's president, Luis Felipe Vieira, and the representative of the player, Jorge Mendes," read a club statement.
"At this moment we are still negotiating to try and achieve our objective of contracting the Portuguese international footballer Simao Sabrosa."