Thinking about this. IF our interest in Parejo is real (I still believe it's just BS rumours and nothing will happen as Marcelino considers him as key player for next season and won't let him go) I think he's the player that Valverde wants and that could be the reason he rejected Seri (again, IF that's true). I know people don't like Parejo and I'm not a fan either but I prefer him over Di Maria so if we can get him for around 20-30M I would be ok with that but I wouldn't go higher (which is what Valencia will probably demand, so that's another reason why I think it won't happen).
He was poor, inconsistent and often looked unmotivated during his time in Valencia, all that is true. But look at this from other perspective. Their whole club was a mess for most of the last few years. I would have hard time to motivate myself playing for Pizzi, Gary Neville or Paco Ayestaran too. Not defending him because I believe every player should do his job professionally no matter the circumstances but it can be seen how everything that was going on in Valencia has influenced Parejo and his teammates negatively. Now that they finally got a good coach to start the season (as I think Voro was quite good in his caretaker role) in Marcelino according to most reports Parejo's attitude has changed a lot. He also played well when Valverde was Valencia coach in second half of the 2012/13 season and Valencia fans are saying that was one of his best periods at the club. So Parejo seems like a player that needs the right coach to get the best out of him and it seems Valverde could be the one. Of course he's not the same player he was 5 years ago but if that's true I think he could still be a useful player for us under Valverde's guidance.
That said, I'm not crazy about getting him and I'd prefer a younger player with more upside.