West Ham could miss out on Celta Vigo striker Maxi Gomez with Valencia looking likely to clinch a deal for the Uruguayan, according to Marca.
It is believed that midfielder Santi Mina will be used as a makeweight in the deal with Valencia also paying between €15m and €20m in cash in order to secure Gomez.
A player may also be sent out on loan to Celta in order to compensate them for losing out on Gomez’s €50m (£45m) release clause.
West Ham have been locked in talks about the 22-year-old for a number of weeks with the Hammers hoping that Uruguay’s exit from the Copa America would help speed up negotiations.
However, it appears the end of Gomez’s participation in the tournament has coincided with a move to Valencia drawing closer instead.
If West Ham do miss out on the Uruguayan international, they will have to switch targets with West Brom’s Salomon Rondon and Porto’s Moussa Marega the likely alternatives.