Manchester City are being linked with Valencia star David Villa.

A Chelsea spokesman told PA Sport no formal bid was made after exploratory discussions with the financially-stricken La Liga outfit.

"We have made no offer for David Villa," he said.

Valencia president Llorente earlier revealed an offer for Villa had been received but refused to confirm from where. Along with Chelsea, City are also keen on the Spain international.

Llorente told regional newspaper Las Provincias: "Yes, we have an offer for Villa but not from Spain."