A source close to the La Liga outfit has revealed that an unnamed player representative is trying to get a deal done with the Blues.
"We are working the market and we have received many names, Terry is on the list we have received via an agent, but nothing is decided," the source told Sky Sports.
In addition to that, Spanish agent Francois Gallardo has hinted that Terry could be on his way to Valencia in January.
"Valencia are negotiating, and I am involved in person, with the signing in the winter transfer market," Gallardo told Radio Intereconomia.
"The offer is on his table. The player is out of contract in June and will not renew there for several reasons at Chelsea and he wants to come to Spain.
"Terry has problems. They are insulting him and he is not taking it any more. He asked to leave, not us.
"It's real. This has been going on for 15 days and two meetings have already took place. The deal is already on his table - a year and a half plus one.
"I think he will accept."