Reports in Italy claim that Valencia have offered 15million euros for Internazionale striker Adriano, but the approach has been turned down by the Serie A champions.
The Spanish side's offer is believed to fall well short of Adriano's valuation, with suggestions that Internazionale have slapped a 25million euro fee on the Brazilian as they look to deter potential suitors.
The offer is likely to spark an increased amount of bidding activity around Adriano, but his club have previously stated their intention to keep him, despite his personal and injury problems last season.
Adriano is contracted to Inter until 2010, and it remains to be seen as to whether Inter will cash in.
Valencia would face a difficult job in persuading Adriano to move away from the San Siro, after he previously stated he would only be interested in joining a fellow Serie A team.