Spanish clubs Rayo Vallecano and Granada have both confirmed their interest in Swansea City forward Michu.
Swans manager Garry Monk has said that he does not think Michu will play for the Premier League club again.
The Spaniard, 29, spent last season on loan at Napoli in Italy, but injuries limited him to six games.
"We will always be interested in Michu. Whether we'll be able to make that transfer happen is another thing," said Rayo director Felipe Minambres.
Michu was a £2m signing from Rayo in July 2012 - scoring 22 goals in 43 games in his first season at the Liberty Stadium - and has a year remaining on his contract.
But it is understood the La Liga side cannot afford to pay a transfer fee and would need Swansea to allow him to move on a free transfer.
A Granada spokesperson said: "The club are very interested in the player, but it's just one offer to add to the many he already has.
"It will be the footballer himself who decides whether he'll be interested in joining us or not."
Top-flight Granada are managed by Michu's former Rayo coach Jose Ramon Sandoval.