The buyout clause in Enzo Perez's Benfica deal will be in place for the winter market.
In Portugal, many player deals include a buyout clause which can only be triggered for the summer transfer window.
However, Record says Perez's €30 million option remains viable for January.
It's understood Valencia are competing with Tottenham and Manchester City for the Argentina international winger.
Benfica president Luís Filipe Vieira is prepared to sell - but not for anything less than Perez's buyout clause.
