Former Valencia president Pedro Cortes is under investigation for alleged "inappropriate sexual conduct" toward a club youth player, a court spokesman confirmed to ESPN.
The player's family reported the alleged sexual abuse to the police and the matter is under preliminary investigation in a local court.
Valencia CF said on Thursday that they are cooperating with the investigation.
Valencia, who did not name Cortes in their statement, stated that the alleged abuse occurred outside the club's facilities.
"From the moment the club was made aware of the events, the priority of Valencia CF has been to accompany our player and his family to guarantee their well-being and attend to their needs in these difficult times," a club statement said.
"Valencia CF wants to remember the importance of preserving the privacy of those affected.
"Respecting the presumption of innocence, Valencia CF has trust in the justice system for the resolution of this matter."
Cortes, who presided Valencia in two spells --1986 and from 1998 until 2001 -- and is the current delegate of Spain's national team, has denied any wrongdoing.
"I'm not an abuser," Cortes told Marca. "It's false and it will be proven."
The club reassured families that it has "rigorous" measures in place to prevent and detect sexual abuse.
"Valencia CF and the Valencia CF Academy have the professional staff and the necessary controls to protect and detect this type of infraction and maintain a safe environment," the statement said.
"We will continue to ensure that our measures are rigorous to safeguard the well-being of all Valencia CF members. There will be no more public information about it out of respect for the investigation."