"Valencia is 33, his contract expires in the summer and there's an option to extend it by a further year until 2020," he told the Transfer Talk podcast.
Valencia has been tipped to leave in the summer (Image: GETTY )
Solksjaer believes Valencia is one of the best in the world (Image: GETTY )
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Solskjaer said: "Antonio is the captain when he's fit and when he's playing he will wear the armband.
"He is going through a couple of tough sessions now to get him ready for the busy period coming up.
"When you look at him, there are not many more better right backs going forward with his abilities so you'll see him wearing his band."