Marcello Lippi's football return will be as coach of the Ukraine national side for Euro 2012.
La Gazzetta dello Sport claims relations with president of the Ukrainian Football Federation Grygori Surkis are at an all-time high, and just a wage deal is holding back his appointment.
"Lippi is unique in the world. He is an excellent coach. There is nothing new to report and I can't add anything else. He is not the coach of Ukraine," Surkis told La Gazzetta dello Sport, adding "Never say never," when asked if Lippi was the future.
Lippi is said to have agreed under writing a pre-contract with Ukraine, but there are questions at hand over pay.
Ukraine are offering him €5 million for an 18-month tenure, but the coach wants more. Lippi left his Italy post after World Cup 2010 and has been keeping his head low since.