Valencia are moving to dramatically improve Jose Luis Gaya's terms.
The talented fullback is being watched by Manchester City and Real Madrid this season.
Marca says Los Che are ready to open talks with Gaya about a new deal worth €3 million-a-year. His salary is currently €250,000.
Along with Real and City, Arsenal have also shown interest in the defender.
Gaya's current buyout clause is set at €18 million.
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