Valencia president Chan Lay Hoon told club fans that she was sorry to see Paco Alcacer depart for Barcelona in the €30 million transfer, but added that she could not be mad about a player she regards "like a son."
Alcacer, 23, joined the Catalan club on a five-year deal worth an initial €30 million with a further €2m in potential bonuses, and his buyout clause has been set at €100m.
He is due to be presented on Thursday.
"If it had just been about money, it would have been an easy decision, the Valencia president told fans on Friday. "But Paco wasn't like the rest of the players and he was also very popular. He was an icon, a symbol of our academy because he had been with us since he was 11.
"Last week when he told me he wanted to leave I was very disappointed. But I understand that it is very difficult for a player to say no to an opportunity like Barcelona," she said.
"But it doesn't make sense to make an icon out of someone who has his heart somewhere else."
Alcacer became Barcelona's sixth signing of a busy transfer window, following the arrivals of Jasper Cillessen, Andre Gomes, Samuel Umtiti, Lucas Digne and Denis Suarez.
Jordi Alba, however, said Valencia's loss was Barcelona's gain, and welcomed the forward he has known for 16 years.
"I'm very happy that Paco Alcacer is joining us. I've known him for 16 years, he's a good friend of mine and he's a great signing. We will give us a lot, although the three forwards he has ahead of him are the best in the world.
"He's a player with a lot of goals, he will work hard and Barcelona were spot on to sign him," Alba said after Spain's 2-0 win over Belgium.