Monaco hope Juventus midfielder Tiago will accept a pay cut and agree a loan move to France.
Stade Louis II manager Ricardo is an admirer of the Portugal international and is keen to bolster his squad.
Juventus have agreed to allow Tiago to join Monaco on loan and Ricardo is now optimistic the former Chelsea and Lyon player will agree personal terms.
"I have had phone calls with him (Tiago)," Ricardo told L'Equipe.
"I explained my plans and told him he will have an important role to play.
"Now it is up to him to see if he can make sacrifices. With his current wages it would be impossible for us to sign him."
Meanwhile, Ricardo accepts it is unlikely Monaco will sign free agent Pedro Miguel Pauleta.
"I like Pauleta," Ricardo added. "He is a free agent, but we can't sign him with his financial demands."