Los Che are preparing for life without Roberto Soldado, who could be sold at the end of the season, and they believe the Celta star would be a perfect replacement.
According to Super Deporte, Valencia have already agreed a five-year deal with the player, but they have yet to reach an agreement with the Sky Blues.
Los Che are prepared to offer €5 million cash plus several players from their ranks, which could be a tempting proposal for Celta.
First team footballers Juan Bernat and Jonathan Viera, as well as youngsters Portu and Carles Gil could be included in the deal.
Iago Aspas, 25, has a €10 million release clause inserted in his contract, and Celta chiefs are not prepared to lower their asking price.
The talented forward, who netted 10 times in 28 league games this season, has just been slapped with a four-match ban for head-butting Carlos Marchena.