Valencia has stepped up talks with Javier Aguirre for their vacant managerial post, and a formal offer is expected to be made to the former Mexico coach in the coming days, a source told ESPN's Rodra.
The LaLiga side sacked Carlos Corberán last Sunday and immediately appointed Braulio Vázquez as sporting director to lead the search for a new coach.
Vázquez has been weighing several options, but a source confirms that Aguirre is currently the frontrunner. Ernesto Valverde was also on Valencia's shortlist, but he declined to manage this season after concluding his tenure with Athletic Club.
Valencia sit in the relegation zone after picking up just four points from their first six games.
Aguirre, 67, guided Mexico to the Round of 16 at the last World Cup before they were eliminated by England at the Azteca Stadium. After he finished his deal with Mexico -- a national team he managed across three separate spells, including the 2002 World Cup -- his assistant and 'El Tri' legend, Rafael Márquez, took over as head coach.
He has already fielded approaches from other teams, but the prospect of returning to LaLiga is his preferred option, a source added.
'El Vasco' boasts an extensive career in the Spanish league, with managerial stints at Atlético Madrid, Osasuna, Espanyol, Zaragoza, Leganés, and Mallorca.
Aguirre's potential appointment would be warmly welcomed by the Valencia squad, who view him as a manager with proven experience in lifting teams out of relegation battles, sources closed to the team said.