Gates at Coopers Stadium - once a cauldron of noise and passion - have almost halved in just three years, dipping from an average of 14,156 in the Reds’ championship-winning season of 2015-2016 to a meager 8,717 this campaign.
A cacophony of colour and packed terraces has given way to indifference and disinterest from supporters traditionally amongst the vociferous in the A-League.
All but out of the hunt for an A-League home final and with a virtual lame duck coach at the helm in outgoing and unwanted German Marco Kurz, the club owned by a mystery syndicate appear to be on the nose with their nearest and dearest.
Their predicament concerns Valkanis, 43 - who captained the Reds, and held caretaker and assistant roles before decamping after 14 years for Melbourne City.
He currently holds an Academy position with Eredivisie side PEC Zwolle.
“Somehow, the club has lost its way in terms of its connection to the people,” said Valkanis.
“It was that connection which made the club so special.
“When we were strong and one of the best teams in the competition that link looked almost unbreakable.
“But it seems to have been cut and Adelaide need to find a way to win back the faith of those fans who no longer go to matches, and also with the local clubs who used also to be an important part of that chain.
“They have to somehow reach out and re-establish that missing link with the people who were once there for better or worse because that’s not the way it is at the moment.
“It’s a special place when the stadium is full and they’ve got to get back to that.”
Though perplexed by the decision of the new owners - fronted by Dutchman Piet van der Pol - not to renew the contract of FFA Cup winner Kurz, Valkanis believes whoever takes over should have some local knowledge.
“There’s work to be done in terms of which coach they bring in,” he added.
“In my view it needs to be someone who generate excitement off the park with the promise of being the person to take the club back to where it’s got to be.
“It’s Important they put in someone who knows the club and knows Adelaide. It’s got to be somebody who understands that connection with the people and is able to re-invigorate that ... for the good of the club.”
Attendances have dropped across the competition this season in a continuing year-on-year trend, bucked only in marginal terms by Melbourne Victory, Wellington Phoenix and Brisbane Roar.
But nobody’s bottom line has dipped as drastically as the Reds.
“It’s a city with a big football culture and tradition and that needs to be fully realized again,” added Valkanis.
“The place is still very close to my heart and I see the club as a sleeping giant.
“I was there in the early years and it was phenomenal to be part of a team that reached two A-League grand finals (2007 and 2009) as well as the final of the Asian Champions League (2009).
“Marco has done a really good job in Adelaide in terms of bringing them silverware.
“He made them a well structured, organized team. The club has always relied on younger players and I think they’ve done really well with Kurz.
“Why he’s not been retained, I don’t know. I’m not privy to what’s been said behind closed doors”
Asked if he’d take the mantle if offered to him, Valkanis replied: “It’s something I’d always consider but the way things are here in Europe at the moment I have an exciting role.
“These chances don’t come along too often, especially for an Australian, and I really want to give it a go.
“But Adelaide is always something I’d consider because it’s close so close to my heart.”
