Real Madrid coach Carlo Ancelotti is set to reject an offer from the Brazilian Football Confederation (CBF).
The Italian is in London this week for talks with CBF representatives about taking charge of the Brazilian national team before their World Cup qualifiers in June.
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However, Marca says Ancelotti will take in the meeting, he will ultimately reject the proposal.
Ancelotti still has a year to run on his Real Madrid contract, but is expected to leave at the end of this season with the club facing a rare, trophyless campaign.
He has informed CBF president Ednaldo Rodrigues of his decision.
Instead, it's suggested Ancelotti has received a €50m offer from an Saudi Pro League club, which he is ready to take up this summer.