With Philippe Christanval also looking set to quit the Principality, and Barcelona interested in signing him, Monaco are aware of a need to bring new defenders to the club.
Djetou, who has been targeted by Fulham, Barcelona and Bayern Munich, amongst others, is the subject of speculation suggesting he is set to become the latest addition to Claudio Ranieri's squad, even though William Gallas has already been bought this summer.
Ballesteros, who previously saw a move to Southampton collapse, and has been linked with Manchester United, is not overly keen on a switch to Le Championnat.
"My representative is moving to Spain and, at the moment, there is a delay," commented Ballesteros. "It would not bother me to play abroad but I prefer to remain in Spain.
"Although there is nothing concrete, I know of interest from important teams, who have followed me for several games, which makes me feel good.
"I have two years left on my contract but I know Rayo's policy with sales, and I am 25 years old, young and I have offers.
"If Rayo want it, I will leave, but, if I remain, I am also contented."
Valencia are believed to be interested in keeping the defender in La Liga, and are tipped to rival any offer that Monaco table.
It is worth writing off any hope of a transfer to England, however, as the Southampton saga has left him bitter with the British game.
"I was on the verge of playing in England," he added. "It was with Southampton, where I had a very negative personal experience.
"This causes me to have personal reasons which prevent me from playing in England.
"They made an excuse about the language but, on the field, there is no language."
