Alex Song was reportedly hours away from joining Valencia on loan from Barcelona in the summer transfer window.
The Cameroon international joined West Ham United on loan in August and has been excellent for the Hammers in the early part of the season.
According to Sport, Los Che pulled out of a deal at the final moment due to the uncertainty surrounding Peter Lim's takeover of the club.
However, the same report has claimed that Valencia will return for Song on a permanent deal next summer.