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UPDATE 1-Soccer-Saez offers to quit after Euro 2004 exit - media

(Adds soccer federation statement, details)

MADRID, June 24 - Spain coach Inaki Saez has
tendered his resignation a day after saying he would not quit
over his team's first stage exit from Euro 2004, Spanish media
reported on Thursday.

Saez caved in to intense pressure, several newspapers said,
after the media attacked his announcement on Tuesday that he
planned to lead Spain's qualifying campaign for the next World
Cup.

"Saez throws in the towel," was the headline in AS sports
newspaper.

A spokesman for the Spanish soccer federation declined to
comment on the reports.

A statement on their website said Saez had met the head of
the federation, Angel Maria Villar, on Wednesday to "analyse the
situation caused by his (Saez's) announcement...that he would
lead the national team into the final phase of the 2006 World
Cup".

As a result of their conversation, Villar has cancelled a
news conference planned for Thursday and has called a meeting of
the federation board on Friday at 1000 GMT, the statement said.
A news conference will follow the board meeting.

Saez faced calls for his resignation over team selection and
over-cautious tactics after Spain scored two goals in three
games in Group A to finish behind qualifiers Portugal and
Greece.

Despite defending himself at a heated news conference in
Madrid on Tuesday, Saez was hurt by the media onslaught and
offered Villar his resignation at Wednesday's meeting, several
newspapers reported.

They were already speculating on Saez's replacement, with
Mallorca's experienced coach Luis Aragones top of the list for
most commentators.

Luis Fernandez, who helped preserve Espanyol from relegation
last season but was replaced, was also among the top contenders,
along with Victor Fernandez, who led Real Zaragoza to triumph in
the 1995 Cup Winners' Cup and whose contract with Real Betis has
ended.

There was also talk of Michel, an illustrious former Real
Madrid and Spain player, taking over. It would be his first
coaching job.