Villa drew 3-3 to Preston North End on Tuesday night in a see-saw of a game that either team could have won.
Sky Bet Championship club Aston Villa are searching for a new manager after parting company with former boss Steve Bruce earlier today and it is thought that Shakhtar Donetsk's Fonseca is one of the managers who they would like to speak to about filling the vacancy.
Despite having to deal with a reduced budget last term, Villa finished fourth in the second tier before falling at the final hurdle, losing 1-0 to Fulham at Wembley and being consigned to another year out of the Premier League.
"We would like to place on record our gratitude to Steve and his team for their hard work and commitment". Villa confirmed the sacking in a statement in which they said Bruce's assistants had also had their contracts terminated. We wish them well for the future.
New Villa owners Nassef Sawiris and Wes Edens sanctioned Bruce's dismissal amid a toxic atmosphere among fans and chief executive Christian Purslow delivered the news at the club's Bodymoor training ground on Wednesday.
After failing to secure a return to the top flight in May that would have been worth in excess of £160m, owner Dr Tony Xia was understood to have cash flow problems.
Villa was Bruce's ninth different role since starting his managerial career as player-boss at Sheffield United in July 1998.
John Terry is the standout name, but the likes of Dean Smith, Carlos Carvalhal and Graham Potter are also being considered.