GOAL - Dan Sheridan
The Spanish international had been the subject of an alleged €60 million (£54.8m/$66.5m) bid from Los Rojiblancos ahead of their season opener against Getafe this weekend.
The move was expected to be made official ahead of the opening round of league fixtures, however, club bosses have confirmed any deal to take the Brazilian-born forward to the Spanish capital is now off.
Amid intense speculation surrounding his immediate future, the 28-year-old has returned to training with the Valencia squad as they prepare to face Real Sociedad at the Mestalla on Saturday.
Speaking to Mundo Deportivo ahead of their curtain-raiser, Alemany said: “There was the possibility that Rodrigo could be transferred, (but) right now, there is no offer on the table.
“Those who were offering are now no longer offering, and what seemed like an agreement could not be executed. He is available to train and, at his request, play on Saturday against Real Sociedad.”
Rodrigo has spent the last five seasons at Valencia, and enjoyed an impressive 2017-18 campaign, scoring 16 goals and adding four assists in the league.
Both Everton and Napoli were credited with an interest in the player this summer, but Atleti appeared to have won the race for his signature before Alemany’s revelation.
“There was a principle of agreement,” he confirmed. “Subsequently, due to circumstances that have nothing to do with Valencia, it did not go ahead.
“The situation, which at that time had to be specified, was between Atleti and Rodrigo. They had spoken and the decision, I think, was not yet taken by Rodrigo.
“I have seen him today and he’s very happy. Between clubs, there was a principle agreement, and right now that offer is no longer on the table.”
When asked why the player had not trained alongside his teammates earlier this week, Alemany added: “When a soccer player understands that his departure is near, it is usual for everything to stop.
“The situation is normal. Everything that was said has not materialised in a concrete offer. Rodrigo spoke with (Valencia head coach) Marcelino and me yesterday afternoon, and wanted to join the team.”
Atletico boss Diego Simeone has already managed to sign the likes of Joao Felix, Mario Hermoso, Kieran Trippier and Marcos Llorente this summer, but the Argentine manager still has until September 2 to bring in additional reinforcements.