He was given a 2 year contract that will have him stay with Valencia CF until 2015. Nelson Valdez in a press conference stated that he is very happy that he has become a permanent player of Valencia CF and is looking forward to giving his all for his new club.
I like this decision as he has shown that he is useful to Valencia CF, but he also doesn't give problems for not being a starter. I think this is a smart decision, maybe the 3 million price was a bit on the high, but overall its a good deal.