Valencia's Singaporean owner Peter Lim has clarified, to The Straits Times, events surrounding the manner in which former coach Gary Neville left the club.

"Gary Neville's departure as the manager of Valencia was mutually and amicably agreed between both sides," said a spokesman for Mr Lim.

"This decision was carefully considered and made with the best interests of the club moving forward.

"Gary had also endorsed the appointment of his assistant manager Pako Ayestaran as his replacement.

"The timing of the announcement was agreed beforehand with Gary to take place after the international break so as to minimise disruption to the Valencia team.

"Mr Peter Lim was fully involved in all key aspects of the decision and was not, as some reports have portrayed, away in Bali on holiday throughout the process.

"On the day of the announcement, Mr Lim was away in Bali on a business trip and not for a holiday."