Jose Mourinho has reportedly agreed a two-year deal to become Benfica manager, 25 years after his first spell at the club.
Mourinho, 62, has been a free agent since being sacked by Fenerbahce last month following their failure to qualify for the Champions League.
The Portuguese's availability had triggered a wave of speculation over his next destination, but reports earlier this week strongly linked him with Benfica after they sacked former Wolves boss Bruno Lage.
That has accelerated over the past 24 hours and Mourinho was seen arriving in Portugal on Wednesday night ahead of the move having flown in from Barcelona.
And, according to Sky Sports, Mourinho has now agreed to return to the team who gave him his first managerial job in 2000 - and he will pen a two-year contract.
Back in 2000, Mourinho oversaw just 10 games - with a change in leadership at the top of the club resulting in Mourinho handing in his resignation - before he took a full-time position at Uniao de Leiria.
Jose Mourinho has reportedly agreed a two-year deal to become Benfica manager
Mourinho enjoyed a short-lived spell at the Portuguese club in 2000, overseeing 10 matches
Mourinho went on to enjoy huge success at Porto before becoming an internationally recognised name during his stints at Chelsea, Real Madrid and Inter Milan.
Speaking to the media as he arrived in Portugal on Wednesday evening with a Benfica scarf draped over him by fans, Mourinho had remained tight-lipped.
'I have nothing to tell you,' said the 62-year-old, who also counts Man United, Tottenham and Roma among his other former clubs. 'Before I got on the plane, they asked me if I might be interested. I said yes, I might be interested.
'Benfica officially asked me if I would be interested and said that when I returned to Portugal, I would be happy to speak with people. If I return to Benfica, it won't be a career celebration, nor 25 years later, nor a return home.
'I left my previous club four weeks ago. If you ask me if I expected to stay until the end of the season without coaching, that's not in my nature. I wanted to join. I didn't want to say yes to a club that wasn't the right one, just because I'm a workaholic.
'When I was faced with the possibility of coaching Benfica, I didn't think twice about it, saying, "I'm interested, I'd like it".'
Mourinho's return to Benfica has added intrigue given the Portuguese side face Chelsea in the Champions League at Stamford Bridge later this month.
Benfica had parted ways with Lage after their shock Champions League defeat by Qarabag on Tuesday, and the club are eager to have a new coach in place for this weekend's game against Vila das Aves.
Mourinho was seen arriving in Portugal on Wednesday night ahead of the potential move
Mourinho was sacked by Fenerbahce after they failed to qualify for the Champions League
Explaining the decision, club president Rui Costa said: ‘We have reached an agreement with Bruno Lage to step down as Benfica’s coach. I thank him for everything he’s done for our club, but we believe it’s time for a change.
‘Regarding the next coach, we expect to have the new one on the bench at Vila das Aves next Saturday.
‘We’ve had a tough week for all Benfica fans, after the match against Santa Clara and this match against Qarabag. We haven’t compromised anything, we haven’t dropped out of any competition, but I believe this is the time for a change.
‘The Benfica coach must be a winner. He must be a coach who represents a club of this size and has the ability to bring this team to the required levels.
‘We won’t talk about names. Benfica is currently without a coach. The only thing that happened after the game was the conversation with Bruno Lage. No coach has been hired today.’
Benfica currently sit 6th in the Portuguese top flight, five points off leaders Porto, and they take on Vila das Aves on Saturday evening.