Flamengo are eyeing a Spanish coach to replace Renato Gaucho.

Renato was sacked after the Copa Libertadores final defeat last week.

Former Barcelona coach Ernesto Valverde and ex-Villarreal and Watford manager Javi Gracia are among the names being touted.

A Fla board source stated: "The objective will be a foreign coach.

"Flamengo intends to pay between €4-5m to their new coach, which is already a very high amount by South American standards."

Valverde was sacked by Barca on a deal worth €19m-a-year.