Ranieri set for Spain return

Tottenham's attempts to lure Claudio Ranieri ended in failure today when the Italian agreed personal terms with Valencia.

Also present were Spurs vice-chairman Paul Kemsley, sporting director Frank Arnesen and Ranieri's UK agent Phil Smith.

The five men spent nearly two hours in a basement meeting room discussing the job at White Hart Lane.

But today Ranieri met Valencia chiefs in London and director general Manuel Llorente told Spanish state television: "We have reached an agreement with him (Ranieri) but it is dependent on him finishing his relationship with Chelsea."

Ranieri has failed to agree a compensation package with Chelsea after the club axed him following four seasons at Stamford Bridge.

After yesterday's meeting Levy told Standard Sport that the encounter with Ranieri had been "pure coincidence" adding, "you are jumping to the wrong conclusions".

Spurs today claimed their meeting had been at Ranieri's instigation and they met him only out of courtesy, but it is clear the Italian wanted a move to Valencia.

Ranieri, who received a special prize at the Variety Club sports awards, said today: "I had a meeting yesterday with Spurs and they have a very good project but Valencia is my former team.

"If it's possible to come back to Spain, I will.

"I'm very keen on Valencia - it's my home.

"Now we are in the process of sorting out things with Chelsea and you know that."

The 52-year-old Italian, who coached Valencia from 1997 to 1999 before moving on to Atletico de Madrid, was reported to be getting around £6million from Chelsea as his dismissal on Monday came with three years of his contract left to run.

However, Chelsea's chief executive Peter Kenyon said today: "We are in discussions with Claudio's representatives and I can assure you he will be paid in full."