According to Tribuna Deportiva, Valencia's board has laid out the financial terms they are prepared to offer over the coming years. Rodríguez, whose current deal expires in June, has responded positively to the proposal. Other clubs in Spain and across Europe have registered interest, but his preference is to stay at Mestalla — on the right terms.
The sticking point is the sporting project. Rodríguez is reported to be unwilling to commit unless the club gives him assurances that next season will be built around a push for European qualification, rather than another fight against relegation.
Valencia signed Rodríguez from West Ham United in January, initially on a short-term deal until the end of the current campaign. The six-month contract was the only way the move could be completed in the available time, but both the player and the club indicated at the time that an extension was the goal if things went well.
They have gone well. Under Carlos Corberán, Valencia have won four of their eight La Liga matches with Rodríguez in the side compared to five wins from 22 games without him. His ability to win the ball, organise from deep and bring calm to a midfield that had been one of the team's weaknesses has transformed the unit. He scored his first brace for the club in a 3-2 defeat to Celta Vigo earlier this month.
Valencia currently sit in the lower reaches of the table and are not yet mathematically safe, but the aim is to secure survival and then build from there. Whether Rodríguez's conditions for staying are met will depend on how convincingly the club can articulate what the next chapter looks like.