The French international has been linked with a move away from the Premier League side for some months now and was reported to be close to a move away over the summer months.
A host of European outfits have been showing interest in the winger, who has 18 months left to run on his current contract, which is set to expire in the summer of 2013.
Juventus, Atletico Madrid have both been sharing interest in the wideman, along with a number of Russian sides looking to make another big money move for a player well past his prime.
However, it appears that Valencia have upped the ante in the hunt for the player’s signature and are reportedly preparing a £6m bid for the 31 year-old.
That being said, it won’t simply be a case of any side matching the club’s asking price, as the winger is apparently very settled in London and is even looking to earn a contract extension that will keep him at the Bridge until after the 2014 World Cup.
The Frenchman has been used sparingly so far this season and has been limited to mostly substitute appearances since Andre Villas Boas took over the managerial position.
Malouda isn’t the only name being associated with a January exit, as Salomon Kalou, Didier Drogba and even the misfiring Fernando Torres find themselves in the transfer rumours.
Spanish side Valencia had ample chance to view Malouda in action as the two teams clashed twice in this season’s Champions League, where the La Liga outfit failed to progress to the next stage of the competition.
It will be interesting to see if Los Che can win out in their pursuit of the Blues’ veteran, and tempt a player who’s apparently keen on staying in England.