Estadio Deportivo reports that the player is still keen to play in Spain after he missed out of a move to Real Betis in the winter.
The Spanish club wanted to loan the forward until the end of the season but West Ham rejected the offer saying that they will only interested in a permanent deal.
The Hammers are thought to want to get back as much of the £4m they paid Arsenal for Perez back in August last year.
It remains to be seen whether Betis come back in for Perez but if so he could be joining his teammate Adrian who is hotly tipped to re-join his former club.
Another transfer rumour doing the rounds is a re-emergence of speculation that Javier Hernandez could move to Valencia based on his bizarre choice of hair colour for the final game of the Premier League season likening to Valencia’s away colours and their nickname of the Oranges.
Hernandez was heavily linked with a move away from West Ham in January.