The 19-year-old attacking midfielder is highly rated in Brazil and is drawing attention from Premier League outfits this summer.
Crystal Palace are keen on signing Franca and they are rivalling Chelsea for his signature.
The Eagles submitted an initial bid for Franca of £17m including add-ons but saw that rejected by Flamengo.
Their London rivals Chelsea have also held discussions with the Brazilian outfit and they want to sign the player and loan him to Strasbourg this summer.
It has been claimed that Crystal Palace are plotting a fresh bid for Franca and they want to fast track him to Roy Hodgson’s first team to ward off Chelsea’s interest.
Flamengo have slapped a £21m price tag on Franca, who has already made 54 senior appearances for the club, netting nine goals in the process.
Now it remains to be seen whether Palace will be able to come up with an offer good enough to bring the player to Selhurst Park this summer.
