Roberto Carlos will reportedly meet with the Real Madrid board on Friday to discuss which role he will take at the Bernabeu.
The former left-back revealed earlier this week that he has held talks with Real Madrid over a return to the club in a coaching capacity and promised that he could deliver Barcelona's Neymar to the Spanish giants.
According to AS, a formal meeting will take place at the end of this week to determine which role the Brazilian will play at his former club.
Carlos, 42, represented the Spanish outfit between 1996 and 2007, helping the club win four La Liga titles and three Champions Leagues.
It is understood that the Sao Paulo-born defender is still contracted to Indian Super League side Delhi Dynamos in both a playing and coaching capacity, but will leave to link up with Real Madrid when a deal is agreed.