Ossie Ardiles' is "very interested" in returning to English football with Albion.
Former Tottenham team-mate Alan Brazil says the World Cup winner is exploring his options "and Brighton could be one of them."
The Argus revealed on Tuesday that Ardiles and fellow Argentinian World Cup legend Diego Maradona are keen to invest in Albion if they receive Government approval later this month for a stadium at Falmer.
Brazil, now co-presenter of the breakfast show on talkSPORT radio, told listeners yesterday: "I don't know about Maradona but Ossie is very interested.
"Ossie's had great success in Japan. It's not really been reported how well he's done as a coach or a manager in Japan.
"It's no secret that Ossie's got a few quid. He's looking at several options and Brighton could be one of them."
Steve Perryman, Ardiles' former assistant manager at Spurs and in Japan, revealed in The Argus yesterday that his old boss is desperate to come back to England after a decade working abroad. Ardiles has been friends with Maradona since they played together for Argentina and used to act as his representative.
Albion chairman Dick Knight has ruled out Ardiles replacing Mark McGhee as manager but is expecting widespread interest from potential investors if Deputy Prime Minister John Prescott sanctions a stadium at Falmer.
Meanwhile, Jason Dodd has not given up hope of recovering from injury for Albion's next match at home to Cardiff a week on Saturday.
The former Southampton rightback had an ankle operation four weeks ago and has missed the Seagulls' last seven matches in the Championship.
Dodd said: "I"ve been running for the last couple of days and it is a case of getting through the soreness. I'm a lot happier than I was earlier in the week. I was really worried on Monday but Tuesday and Wednesday were terrific.
"It's an outside chance that I will be ready for Cardiff but I'm not ruling it out."
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