Sporting director Ron Gourlay still has a right-back, a back-up goalkeeper and a winger to bring in before the market shuts, a far cry from previous summers when the squad was close to finished by the time the Trofeu Naranja came around, due to be played this year on August 8.
The more pressing concern is Javi Guerra. Barcelona have been tracking the midfielder for some time, and the interest has taken on a literal dimension this week with both clubs sharing a pre-season training camp at St George's Park in England, where Guerra has been seen greeting Barcelona players he knows from international duty with Spain.
Barcelona could move to formalise an offer in the coming days, particularly if they decide against pursuing Julian Alvarez; while the two deals are unrelated in profile, a cheaper forward signing would free up funds that Barcelona could redirect towards Guerra.
Valencia, however, are relaxed about the scenario. From Saturday, August 1, Guerra's release clause rises from €40m to €60m — a level few, if any, suitors are likely to reach. Both the club and the player have stated that he will remain at Mestalla this season, the final year of his current contract, though with money on the table there is always a question mark over what owner Peter Lim, watching on from Singapore, might ultimately decide.
Guerra signed a renewal through to 2029 last year that included a significant salary increase and a system of variable clauses, strengthening Valencia's negotiating position considerably.
His stock has continued to rise since: a prominent campaign under head coach Carlos Corberán, who has used him as a No 10 in pre-season, plus a senior Spain debut, has only added to the level of interest from around Europe, with previous links to clubs in England and Italy as well as Barcelona.