Man City, Chelsea encouraged over new bid for Valencia star Villa

Valencia are set to spark a mad scramble between Manchester City and Chelsea for striker David Villa.

The Mirror says the Spain international's potless Valencia club are close to going bust - and City are ready to take advantage with a 'substantial' bid for the 26-year-old.

Valencia resisted the temptation to sell their star last summer.

But he would now go for far less than the £40million Chelsea were prepared to pay six months ago.