Rio de Janeiro, Oct 13 (IANS): Brazilian giants Corinthians are set to announce Oswaldo de Oliveira as their new coach, according to widespread media reports.

Oliveira quit his position as coach of fellow Brazilian Serie A club Sport Recife on Wednesday, having reportedly agreed to terms with Corinthians, reports Xinhua.

"(We) lament the decision and thank (Oliveira) for his time with the club," Recife said in a statement late on Wednesday.

Corinthians are currently being coached on an interim basis by Fabio Carille after last month they sacked Cristovao Borges.

Earlier on Wednesday, Corinthians President Roberto de Andrade openly admitted that Oliveira was his preferred choice as coach.

"I have spoken with Oswaldo and I think he has everything we need," Andrade told the Uol news portal, "But we have to respect the fact he is working at another club."

Oliveira, 65, has coached Corinthians on two previous occasions from 1999 to 2000 and in 2004.