"I didn't come here to take the places of Isco and James. If the coach decides to select me ahead of other players it's his decision.," Asensio said.
Valencia have signed Barcelona's Munir El Haddadi on a season-long loan with an option to make the deal permanent at the end of the campaign.
Barcelona have announced the signing of striker Paco Alcacer from Valencia.
Schalke are closing in on the signing of Sevilla winger Yevhen Konoplyanka, sources close to the club have told ESPN FC.
Barcelona president Josep Maria Bartomeu says he is preparing to offer new contracts to Luis Enrique and Lionel Messi, Luis Suarez and Ivan Rakitic.
Bayern Munich's Carlo Ancelotti has backed his old club Real Madrid to win the La Liga title with Cristiano Ronaldo topping the goalscoring charts.