Valencia and Arsenal have yet to reach agreement over the sale of midfielder Edu.
The Brazilian has refused to sign a new deal with the North London club, and Valencia are hoping to sign the player before the transfer deadline expires.
However Arsenal are asking for €3.5 million for Edu, but as the player can leave for nothing at the end of the season, the Spanish club are looking for a cut-price deal before the transfer deadline closes on Monday.
Valencia sport director Eduardo Macia remains hopeful a deal can be struck.
“I am convinced that the situation will be solved positively this weekend, but not by the money demanded by The Gunners,” said Macia.
Valencia boss Claudio Ranieri is looking forward to the arrival of the Brazilian.
“I am happy by the arrival of Edu,” said Ranieri.
“The team will have more power in the midfield line in the key moments of the season.
“Edu will have no problems adapting to the Spanish Liga because he has the sufficient quality of a worldwide star.”
Arsenal boss Wenger is optimistic a deal can be struck.
“In the next 24 hours it will be decided if he stays here or goes to Valencia,” Wenger told Sky Sports News.
“I don’t know, you have to be open when negotiations are going on, I would say today the final decision will be made, you will be informed tomorrow about his situation.
“I will not feel let down at all, I brought him here four or five years ago and he has done extremely well for the club and can be proud of what he has achieved.
“I feel he has become a better player, won trophies, and at the end of the day he is a professional at the end of his contract and has the right to negotiate with whom he wants.”