Real Madrid have been warned by Valencia's director general Mateu Alemany that they must pay Rodrigo Moreno's €120million release clause if they want to sign him.

The forward has been linked with a move to the European champions, with head coach Julen Lopetegui said to be keen on a reunion with a player he knows well from his time in charge of both Spain's Under-21 and senior side.

Alemany admits there is little Valencia can do to stop a move if Rodrigo's buyout clause is met, but he is confident the 27-year-old will snub a return to the club he joined as a youngster back in 2009.

"I'm not in contact with them [Real Madrid]," Alemany told BeIN SPORT when asked about Rodrigo, who scored 16 goals in LaLiga last season and equalised in the opening game of this term, against Atletico Madrid on Monday.

"If they offer €120million, there's nothing we can do, but Rodrigo seems to be very happy and motivated here.

"Rodrigo is very important for us and we want him to stay."