Former Chelsea coach Claudio Ranieri is poised to return to Valencia after agreeing personal terms with the Primera Liga champions."
"We have reached an agreement with him (Ranieri) but it is dependent on him finishing his relationship with Chelsea," said Valencia director general Manuel Llorente.
Sports daily Marca said that the deal would be completed as soon as the Italian coach reached an agreement with Chelsea over his payoff following his sacking earlier this week.
Ranieri coached Valencia from 1997 to 1999, guiding them to victory in the King's Cup in his final season in charge before signing for Atletico Madrid. He left Atletico after less than a season, taking over at Chelsea in September 2000 following the departure of Gianlucan Vialli.