Valencia s new executive director Juan Villalonga has offered Spanish coach Luis Aragones, who earlier this month joined Turkish club Fenerbahce after leading Spain to victory in Euro 2008, a two-year contract, a newspaper reported on Monday.
An agreement between the two sides could be reached over the coming hours , Spanish sports daily Marca reported without citing sources.
Aragones, who is approaching his 70th birthday, signed a two-year contract with Fenerbahce but Marca said he can break it without paying a penalty.
Current Valencia coach Unai Emery, who was appointed in May, will be fired, it added.
Aragones, a former Spanish international, became the oldest coach to win the European title when Spain beat Germany 1-0, clinching their second title after the first in 1964. He became national team coach in 2004.
Villalonga, a former president of Spanish telecoms giant Telefonica, took control of Valencia last week.
Valencia, the winners of the Spanish league in 2002 and 2004, finished in 10th place last season in La Liga, 34 points behind the winners Real Madrid but will take part in the UEFA Cup next season since they won the Spanish Cup.
The club had four coaches last year: Quique Sanchez Flores, Oscar Fernandez, Ronald Koeman and Salvador Gonzalez Voro .
