David Albelda says Valencia had no choice but to sell David Silva to Manchester City.
David Villa was also sold to Barcelona for 40million euros (£33.5million) before the World Cup, while Silva recently joined Manchester City for around 33million (£27.7million).
But Albelda says Valencia had no alternative.
"It's a shame they have left because they are two great players, but the club had to sell them to survive," he told AS.
Nevertheless, Albelda believes Valencia can cope without the two attacking talents.
"I have lived similar situations (at the club) and we have come through them," he said.
"The president has to look for solutions to past mistakes and make unpopular decisions, but I think people understand that selling is one of the few ways of solving these problems."
