Spurs loaned Gil out to Valencia for the second half of the season in January, on the back of a campaign in which he had struggled to make an impact in north London.
The winger wanted to clock regular first team football at Valencia and ended the season having made 17 appearances for Los Che, providing one assist.
With no purchase option in the loan, Gil is returning to Tottenham, though his future in north London is unclear.
It has been suggested in some quarters that Valencia could look to bring him back, but according to Spanish daily Estadio Deportivo, Los Che may not go back for Gil.
The club are looking closely at reducing costs and an expensive move for Gil, with a loan fee and paying the player’s wages, could be off the table.
And Valencia coach Jose Bordalas used Gil more sparingly in the starting eleven in the final lap of the season, as he looked at other options.
The Spanish giants may prefer to focus their resources elsewhere in the approaching summer transfer window.
