After spending last six years in La Liga, Banega finally received a Spanish passport yesterday, which is set to open up new options for the highly rated midfielder.
While Valencia can now sign another foreign player without making extra room in the squad, the Argentina international is also set to profit from the fact he is now a Spanish citizen.
Top Serie A clubs have been showing interest in Banega over the last few years, but his non-EU status was proving to be an obstacle to any deal.
With that finally sorted, there is every chance that the 24-year-old will be moving to Italian Serie A in the summer transfer window.
Banega, who has a contract until June 2015 at Mestalla, is considered an important member of the squad at Valencia, but it is believed los Che would not be able to resist a big money offer.