The Primera Liga outfit, one of Spain's biggest clubs, are crippled with huge debts that has left them struggling to pay their players.

Up until now Valencia have steadfastly refused to talk about the possibility of selling their key players such as David Villa and David Silva.

But Javier Gomez, who was yesterday named as the club's new chief executive, concedes that is something they now need to consider.

"The club is in a very delicate situation. We need to contain costs, increase revenue and sell assets," said Gomez, who was formerly Valencia's director general.

"Clearly we will consider that type of action (selling players), whatever is necessary. We must contain costs, and the biggest cost in a football club is maintaining a squad."

With regards to unpaid wages, Gomez added: "I cannot give a concrete date for when the players will be paid."

Valencia have won just one of their last nine league and cup matches, during which time they have dropped to sixth in the standings and been knocked out of both the Copa del Rey and UEFA Cup.