Cesare Prandelli "gave up" and resigned after demanding five January signings Valencia were unable to deliver, club officials have claimed.
Former Italy boss Prandelli abruptly quit on Friday after just three months in charge, leaving the struggling side 17th in LaLiga and in grave danger of relegation.
Los Che have endured a tumultuous 2016, Prandelli following Gary Neville and Pako Ayestaran in making a swift exit after being unable to improve the team's fortunes on the field.
Addressing the media on Saturday, senior club officials Anil Murthy and Jesus Garcia Pitarch claimed Prandelli walked away after being told the club were not capable of meeting his expectations in the transfer market.