Reports suggests Spurs have made a £10million bid for Riquelme.
Franchi told Radio La Red: “Despite that we haven’t been told anything officially, we know that Villarreal has received a very important offer from Tottenham and that the president Fernando Roig is analysing it.
“They have to make a decision before August 31, otherwise Riquelme will stay at Villarreal as there aren’t any other serious negotiations.
“If nothing new appears I think that they should accept this offer as it is good for the club and the player.
“I don’t think that Riquelme would be useful for Villarreal without playing.
“It would be much more useful for them to sell him so they recover what they invested in him when they bought him.”
