Valencia have paid Fenerbahce £7 million for Portugal international Luis Nani according to Fanatik.
The report claims that the La Liga outfit have already processed the payment and that Fenerbahce have received the fee.
Nani has a £7 million release clause which remains active until the end of the month and he is now expected to undergo a medical with Valencia before completing his deal after his Euro 2016 campaign.
Fanatik also report that Liverpool were considering activating his release clause and DHA claimed the Manchester United had agreed personal terms with Nani but were put off by his asking price.
Nani has of course won four Premier League titles in the past and Everton were also in the race to sign the Portuguese international.
The 29-year-old joined Fenerbahce on a three-year deal from United last season and despite having an impressive league campaign he fell out of favour with head coach Vitor Pereira.
Nani is currently on international duty with Portugal and has started all of his national teams games over the course of the European Championships.