José Luis Gayà will sign a contract extension with Valencia CF. That means that he will no longer have that €18 million buyout clause on his contract, but according to Diario As, his new clause will be set on €45 million. That means that Real Madrid could still sign him without negotiating with Valencia, something very unlikely considering Florentino Pérez's transfer policy.
Real Madrid's president has always refused to pay buyout clauses. Instead, he wants the selling club to agree to a fee, even if it's a couple of million higher than the original clause. That gets rid of the 45% extra needed to be paid in taxes. But how likely it is that Valencia will be negotiating with Real Madrid after getting Gayà's extension done?
Unless the player forces his way out of the club -- he's always been a Valencia fan and a player raised on their academy -- Real Madrid will need to pay Gayà's clause if they ultimately want to sign the young left back away from Valencia.