Davide Ancelotti will reportedly remain with his father, Carlo, for his first two games in charge of the Brazilian national team before deciding his own future.
The Italian has been widely linked with the vacant Rangers job over the past few weeks.
Barring 'any sudden emergency', however, he will work under his dad with Brazil for their games against Ecuador and Paraguay in June, claims Spanish outlet elpais.com.
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After that, he will decide his future. It is said that the 'most advanced talks' he has held have been with Rangers, although 'significant in-depth contact' has also been made with Serie A outfit Como.
There are also reportedly two options for Ancelotti Jr in Spain, one in the top tier and one in the second division.
Whatever job Ancelotti takes, he will be accompanied by Francesco Mauri, who is in charge of set pieces at Real Madrid.
Elsewhere, TalkSPORT broadcaster Jim White claims that Steven Gerrard will complete an incredible return to Ibrox this summer.
Speaking live on radio this morning, he said: "Back to the football club, it’s understood, will come Steven Gerrard.
”And alongside Steven Gerrard, former Rangers player Steven Davis, and alongside the two of them, as an assistant to Gerrard and Davis, Jordan Henderson."
As well as Gerrard and Ancelotti, names like Russell Martin, Sean Dyche, Gary O'Neil and Rob Edwards were all said to have been in the running.
