Valencia want Carlos Bianchi to join them for the next three years from Boca Juniors.
The Spanish club have an agent in Buenos Aires this week in contact with the Boca coach to offer him £2 million a season for three years
Current Valencia coach Hector Cuper is to leave the Spanish club for Inter later this month and Valencia president Pedro Cortes has revived his March interest in Boca Juniors coach Carlos Bianchi.
Bianchi's Boca team powered into the Copa Libertadores semi finals as holders with a 3-0 win over Vasco da Gama last night and Bianchi has already won the Copa in the 1990s with Velez Sarsfield before a disastrous spell at AS Roma.
Cortes was also considering Wanderley Luxemburgo and Daniel Passarella as Valencia coach but the Brazilian is now on trial over charges that he obtained a fake passport as a young player. Bianchi is now the first choice again to move to Spain after Cortes ruled out Marcello Lippi.
The former Juventus coach is being linked with a return to the Turin club later this month but may also get an offer from Barcelona.
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