Valencia boss Garcia told 'it would cost him £2.7m to walk away from the club'

Javi Gracia is set to remain as Valencia manager despite reportedly intending to resign after seeing his squad decimated during the transfer window.

The former Watford boss only took charge at the Mestalla this summer but has been left disillusioned with the club's transfer business, claiming the club have broken promises made to him prior to taking up his role.

The LaLiga side have been hit hard financially following the coronavirus pandemic, and were always likely to sell one key player this summer.

However Gracia was left in despair after first-team regulars such as Ferran Torres, Dani Parejo, Ezequiel Garay, Francis Coqueilin, Rodrigo Moreno and Cristiano Piccini all exited the club.

To make matters worse for the 50-year-old, no players were brought in to replace them despite being promised new recruits.

Spanish media reports claim Gracia contacted club president Anil Murthy in order to inform club owner, Singaporean billionaire Peter Lim, that he intended to resign.

Although he never had the chance to speak to Lim, he had a two-hour meeting with Murthy that resulted in him staying in his role as manager after being informed it would cost him €3m (£2.7m) to walk away from the club.

Given the severe depletion of his squad, Gracia has made a positive start on the pitch with Valencia sitting a respectable sixth in LaLiga at the start of the season.

Following their first five matches they have won twice, lost twice and drawn once, although a 2-0 defeat by Real Betis on Sunday highlighted their squad issues.