Valencia sell goalkeeper Diego Alves to Flamengo for reported €300k fee

Valencia have sold goalkeeper Diego Alves to Brazilian club Flamengo amid another busy summer of transfer activity at Mestalla.

Penalty-saving specialist Alves has regularly been linked with a move through recent transfer windows as the club's hierarchy looked to get one of its highest earners off the wage-bill amid financial issues that have yet to be resolved under the ownership of Singapore businessman Peter Lim.

The Brazil international, 32, had reportedly been a target for La Liga club Deportivo La Coruna, but he has agreed a return to his home country, with Globoesporte reporting a transfer fee of €300,000.

"This Sunday Valencia CF have reached an agreement with CR Flamengo regarding the permanent transfer of goalkeeper Diego Alves to the Brazilian club," a Valencia club statement read, confirming the departure of a player who arrived at Valencia for €3 million from Almeria in 2011.

Los Che coach Marcelino Garcia Toral now has two senior goalkeepers for the 2017-18 campaign -- Neto, who joined this summer from Juventus, and long-time backup Jaume Domenech.

Other players leaving Mestalla this summer have included goalkeepers Mathew Ryan, who joined Brighton and Hove Albion, and Yoel, who is now at Eibar, while defender Aderlan Santos was loaned to Sao Paulo, midfielder Enzo Perez joined River Plate, winger Pablo Piatti headed to Espanyol, and attacker Zakaria Bakkali joined Deportivo on loan.

Valencia are also reportedly keen to move on former Spain international centre-forward Alvaro Negredo, 31, who has returned to Mestalla following a season on loan at Premier League club Middlesbrough and whose hefty salary reportedly does not fit within the Los Che board's budget.

Valencia have made some investments this summer, making Simone Zaza and Fabian Orellana's loan deals permanent as well as bringing in Serbian youth Nemanja Maksimovic from Kazakh side Astana.