Reports emerged on Wednesday suggesting the former Palmeiras coach would return to the dugout imminently.
Jose Maria Marin, the President of the Brazilian Football Confederation, said an announcement would be made on Thursday, more than a month earlier than it was originally said the decision would be made.
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The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.
Five English clubs will compete in the last sixteen of the Champions League for the first time ever as Liverpool, Manchester United, Manchester City, Chelsea and Tottenham face some difficult away matches.