Swansea boss Garry Monk is to hold talks with forward Michu amid speculation that the player could be heading for either Napoli or Atletico Madrid.
Michu, who suffered an injury-hit campaign in 2013-14 after a stunning, 22-goal first season at the Liberty Stadium, was not in Wales with the rest of the Swans squad as preseason training began.
If the Spain international does end up moving to La Liga or Serie A, he could be replaced by a returning Gylfi Sigurdsson -- talks with Spurs have reportedly already taken place.
But Monk said he hoped Michu could be persuaded to stay, telling the South Wales Evening Post: "I'm meeting him at the end of the week, and we'll talk about things.
"He's a quality player, a great lad, someone who scores goals -- there will always be interest in someone like that. But as far as I'm concerned, he's a Swansea City player and I hope that continues.
"I want him to stay, but we're the same as every club in the world. If an offer comes in, it's right for the club and the player wants to move on, then you discuss it.
"But as it stands, we've had nothing concrete -- so there's nothing to discuss."
Last week, Swansea skipper Ashley Williams, who had also been linked with a move away, signed a new four-year contract.