A host of clubs want to sign the experienced Chilean, who is a free agent after leaving Fenerbahce.
As we revealed a month ago, Isla is tempted by the chance to work with countryman Manuel Pellegrini at Real Betis.
However, the 32-year-old has family in South America and a move there also appeals to him.
TyC Sports and other sources say Flamengo have now made Isla a ‘millionaire’ offer.
And as of today, Flamengo are reportedly the closest to signing him, overtaking Betis, Valencia and Boca in the race.