The former Argentine World Cup winner also admitted that Elvir Baljic, Perica Ognjenovic, Congo and Rodrigo would be allowed to leave.
Valdano revealed that he was happy with the squad and that it was unlikely that any more players would be bought or sold. Geremi had been linked with a move to Chelsea, but Valdano has rejected any move to Stamford Bridge for the African ace.
The 22-year-old, who helped The Indomitable Lions win the Olympic title and African Nations Cup, has lost his place in the Real side to Spanish international Michel Salgado and Chelsea had targeted the tough-tackling defender.
Geremi had admitted that Chelsea had made an offer for his services, but that he preferred to stay with the Spanish champions.
Valdano feels that Geremi's versatility provides valuable options to the defence for Real and they are unwilling to sell him.
"Geremi is a player who could play at wing back or at centre back," said Valdano.
"We are working to find clubs for the four players, especially clubs out of Spain."
