Valencia have expressed interest in Trezeguet in recent weeks, however all talks have stopped with doubts over the future of their sports director Amedeo Carboni, who was driving the deal.
Liverpool boss Rafa Benitez is a big admirer of the France international, while Manchester United's Sir Alex Ferguson has also been chasing the striker for the past 12 months.
Indeed, Trezeguet, depending on his personal demands, would have no shortage of takers in the Premiership, with Arsenal and Newcastle United also having been sounded out about their interest in the last six months.