Valencia demand straight cash offer for Real Madrid target Ayala

Valencia are reluctant to sell defender Roberto Ayala to Real Madrid.

The Argentina international is Real's No1 transfer target, but Valencia are desperate not to lose him to another Spanish Liga rival.

However, the club's poor finances mean they must accept any reasonable offer for the centre-half.

Valencia are asking around £8 million and have already told Real they will only accept a straight cash bid.