Eyal Berkovic wants to bring Yossi Benayoun back to Israel and make him captain of Hapoel Tel Aviv.
Having recently taken over from Ran Ben Shimon, Berkovic has reportedly found a Hapoel supporter - a wealthy businessman who is based in the UK - who will donate $500,000 for Benayoun's salary for season 2014/15.
The club have declined to name the benefactor and, as yet, it is not clear whether the offer has been accepted
But Berkovic said: "I recommend that Benayoun carries on playing abroad, but if he wants to come home we will be happy to have him at Hapoel."
Benayoun, 34, is now a free agent after leaving QPR last month. He also has offers from his two former Israeli clubs, Maccabi Haifa and Hapoel Beersheva.
He made a record 95th appearance for Israel as a substitute in the 3-0 friendly defeat in Mexico and was involved in the 4-2 friendly win over Honduras earlier this week.
Benayoun said: "This is a milestone. I intend remaining a part of the national team, which has always been the most important part of my career."