Chelsea and Real Madrid are involved in a tug of war for prized Valencia striker David Villa. Reports suggest the Blues are prepared to pay £38million in cash for the 27-year-old, while the Spanish giants are said to be offering £24million plus striker Alvaro Negredo.

Chelsea's sporting director Frank Arnesen and Jorge Valdano of Madrid are currently in Valencia for make-or-break talks with the club and his agent, Jose Luis Tamargo.

Tamargo told The Sun: "The key here is not just the money being offered but the sporting ambition of the club. David has never only been interested in money."