Off contract next month, Luis is leaving Madrid this summer.
And Braz says a return home for the Brazil international is something Flamengo are happy to explore.
"14 or 15 years in Europe, the decision is not only to change clubs, but is life changing. When we were with him, he had not yet joined the Brazilian team (for the Copa America).
"He asked for a time frame and we gave it to him," said Braz.