Big-name strikers dominate Sunday's hottest football rumours
Valencia live updates
Miroslav Djukic is set to be confirmed as the new Valencia coach after meeting with club officials.
"There is a good squad here who can achieve great things," Djukic said. "To me, it's a dream to come to Valencia. This is home to me, and I have always regarded it as so."
Reports in the Spanish media claim that Valencia are set to appoint former Chelsea manager Roberto di Matteo as their new boss this week.
Mauricio Pellegrino has been sacked as coach of Spanish side Valencia, who currently lie 11th in La Liga.
"We have been exchanging views, and we made the decision to dismiss Mauricio Pellegrino," president Manuel Llorente said.