Balague was responding to a question from a reader who asked about the latest on Otamendi among other United-linked players.
“Manchester United will make another offer for Otamendi, but unless it’s €50m (£36.8m) Valencia doesn’t want to sell,” replied the well-known Spanish football expert.
Back in the first week of April, Balague had claimed that United have already made a bid for the Argentina international centre-back.
“Valencia think that Manchester United will pay the £38.2m buy-out clause in the summer for Nicolas Otamendi,” the Spaniard wrote on Skysports.com at the time.
“United have already offered £27m and Valencia think they’ll improve on that offer, so the club are preparing for it.”
Otamendi is one of the better centre-backs in La Liga and has been in good form so far this season for Valencia.
The 27-year-old has played 32 times in the league for Los Che, scoring four goals and creating three chances in the process.
The former FC Porto defender has a pass accuracy of 80% and a shot accuracy of 50%, and he has won 97 headers, four dribbles and 69 tackles.
Signing Otamendi in the summer would be a good piece of business for United, who need to recruit an accomplished centre-back to challenge for the Premier League title next season.
However, it remains to be seen if the Red Devils think that the Argentine is worth as much as £38.2 million.