Liverpool are also reportedly interested in the prolific 28-year-old forward, who scored 24 La Liga goals last season.
But the Reds will only make a move if Luis Suarez is sold and manager Brendan Rodgers is still confident he can keep the Uruguayan at Anfield.
Valencia president Amadeo Salvo laid down the perimeters surrounding any deal when he said: ‘If any club wants our striker they are obliged to accept our conditions and the price on the market has a clause.
‘Until August 3, we accept that a deal may happen and we can negotiate, but after that date, he will not leave us.’
Soldado has been a consistent performer in La Liga and in Europe since joining from Getafe in 2009 but although Valencia are reluctant to sell he is their best option to raise funds to ease their crippling financial problems.