The Buccaneers, who are still looking to replace Turkish tactician Muhsin Ertugral, could not afford the two European coaches
Premier Soccer League (PSL) giants Orlando Pirates were reportedly courting experienced tacticians Patrice Carteron and Milovan Rajevac.
However, according to The Sowetan source, money was an obstacle for the Buccaneers, who are hunting for a permanent head coach.
“The names of Carteron and Serbian Rajevac were mentioned but both these guys wanted big monies,” the source said.
French coach Carteron is an accomplished trainer, who guided Mali at the 2013 Africa Cup of Nations (Afcon) finals and won the 2015 Caf Champions League with TP Mazembe of DRC.
Serbian trainer Rajevac has coached African powerhouses Ghana and Algeria. He was in charge of the Black Stars at the 2010 Fifa World Cup in South Africa.
Bucs chairman Irvin Khona recently confirmed that they are looking at six names, who are vying for the coaching job.
In the meantime, Palacios will be in charge of Bucs as they take on Platinum Stars in a PSL game at the Royal Bafokeng Stadium on Wednesday.