Valverde's successor is rumoured to be Roberto Martinez. Since then, it has emerged that Martinez will seek to bring his former Belgium assistant Thierry Henry with him to the Camp Nou.
Despite winning a second successive La Liga title, Valverde's tenure at the Catalan club looks to be over. Barcelona's hierarchy are said to be unhappy after a disappointing capitulation in the Champions League against Liverpool.
The weekend's Copa del Rey final defeat to Valencia is believed to be the final straw for Valverde. Ex-Everton, Wigan and Swansea boss Martinez is the bookies' favourite to take over.
If Martinez does get the top job, his choice of assistant would undoubtedly be Henry. The pair enjoyed a successful spell at the Belgian helm, before Henry left to take over at Monaco.
TV station El Chiringuito broke the news earlier today.
https://twitter.com/elchiringuitotv/status/1133386192479645696?s=11
Henry's spell at Monaco did not go to plan, however. He was sacked after three months in charge after his side lost 11 times in 20 games.
He certainly knows the club well, having played for them between 2007 and 2010. While at Barca, he netted 35 goals in 80 appearances, in the process winning two La Liga titles, a Copa del Rey and the 2008-09 Champions League.
Henry's appointment would certainly go down well with Barca's attacking players. One of the greatest strikers of his generation, numerous players have spoken about the impact of the Frenchman's coaching.
Speaking to NBC Sports, Romelu Lukaku once said: "Henry is the best thing that has happened to me because since I came to England aged 18 I have had the best mentors. Thierry for me is the best. Every day whether it is positive and negative I take it in my stride because I know what is expected from the top level."
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