Reports on Thursday suggested that Espanyol had made an offer for Valdes ahead of the January transfer window.
However, Sport claim that Espanyol have firmly denied the rumours and their goalkeeper Pau Lopez has laughed off the reports.
Valdes is going through a nightmare scenario at Man United having been frozen out by Louis van Gaal following a falling out, so maybe a return to Spain could be exactly what he needs to revive his own career given that it was the country where he made himself a household name.
The former Barcelona man has been forced to train with United’s youth teams and threatened with a fine if he mingles with the first-team.
It looked like Espanyol might offer him a way out but Valdes will have to continue his search for another club. Newcastle United have reportedly sounded out the Spaniard, as have Watford. For the sake of all parties involved, Valdes should be moved on as soon as possible.