Former Chelsea coach Claudio Ranieri says emotional loyalty is behind his decision to take up an offer to return to Spain to take charge of Valencia.

The 52-year-old Italian, who was sacked by Chelsea at the start of the week, has agreed personal terms with the Spanish champions but must resolve contractual matters with the London club before he can put pen to paper.

"My lawyers have to sort everything out with Chelsea," Ranieri told Spanish sports daily Marca on Thursday. "I have got a verbal agreement with Valencia. I would love to return home. My heart is in Valencia."

Earlier Report Ranieri may return to Valencia

Jose Mourinho was named as the new Chelsea coach on Wednesday following his success in winning the Champions League with Porto.

Ranieri, who has also held talks with English premier league club Tottenham Hotspur, coached Valencia from 1997 to 1999, but left to join Atletico Madrid after guiding them to victory in the King's Cup.

He dismissed suggestions that it was unwise to return to the club for a second spell at the helm.

"You can't say no to your heart," he said. "The support the people of Valencia showed me...can never be forgotten. That's why I want to return and because Valencia have got a great set of players and we can continue fighting for success."

If the deal does finally go through Ranieri will succeed Rafa Benitez, who quit earlier this week after leading the side to victory in both the Spanish title race and the UEFA Cup and is expected to fill the vacant post as Liverpool manager.

Ranieri said his aim would be to build on the good work done by Benitez and dismissed suggestions that the team had already reached its peak.

"I think Rafa has left his mark on the team in terms of style and organization. I will try to continue in my own way. We are going to try and take Valencia on to even greater things. That is what you always have to aim for."