Valencia coach Unai Emery says Manuel Fernandes remains in his plans.
Fernandes missed out on moves to Tottenham and Malaga this week.
But Emery said: "The player expressed his intention to leave because he believes it will be good for his growth, and he thinks he will not play as regularly as before because of the new signings.
"In response to his request we made an effort to conclude a deal that was best for all parties, but in the end he decided to stay. He is involved and we welcome him with open arms, now that he has decided to stay."