Fernanda Correia

"It is far from obvious that the contract between BPN and the FPF should end," said Fernanda Correia, head of BPN's institutional relations team.The bank is negotiating to obtain a repeat contract, as Scolari's image rights expire at the end of July.

Correia said that the negotiations would be completed this week, ahead of the World Cup final, on July 9.

Elsewhere, newspapers have reported that Scolari is being sought by Brazil's soccer federation to manage his home country's team, which has already been knocked out of the Cup.

Scolari told media that he focused on his current task -- winning the World Cup for Portugal -- and would not comment on speculation.

"I have a contract with Portugal which runs until July 31 and I don't want to talk about (the alleged Brazil offer).I am focusing on the World Cup, watching 12 hours of football a day, talking with players and training.I have no time for anything else," he told media.

He said he was happy in Portugal where he lived in Cascais, "a spectucular place... a beautiful, tranquil city," and where his children were studying in at good schools.