Ronald Koeman is accepting a £2.5 million compensation offer from Valencia following his sacking last week.
The Dutch coach had originally sought £6 million for the remaining years on his contract, but DiarioSport says he has since accepted the compromise offer.
Meanwhile, it's emerged that majority shareholder Juan Soler won't consider dipping into his own pocket for more signings this summer. Instead, management have been told they must fund their plans by selling some of their top names - including David Villa and David Silva.