Carlos Alberto Parreira, who quit his post as head coach of Brazil this week following the poor showing from Brazil at the World Cup, has agreed to take charge of South Africa.

According to reports, a source on the South African Football Association executive says Parreira has agreed to the financial terms. All that is apparently needed now is his signature.

"It's merely a formality now; the only thing that we are waiting for is his signature and it might be announced over the weekend."

Parreira is a good manager but failed to lift Brazil for the tournament in Germany this year.

Given four years with Bafana Bafana should be enough time to get the hosts of the next World Cup ready and we should see a team ready to conquer the World in 2010.

Parreira is one of only two coaches that has led four national teams to the World Cup; Kuwait in 1982, United Arab Emirates in 1990, Brazil in 1994 and 2006, and Saudi Arabia in 1998. He'll have a much easier job in 2010 as South Africa don't need to qualify as hosts.

In 1997, Parreira coached the MetroStars of the United States. He also coached Fenerbah?e in Turkey and won a Turkish League Championship. Parreira was also in charge of two big clubs in Brazil: Fluminense and Corinthians, which gave him two of the most important national trophies of 2002; The Brazilian Cup and the Torneio Rio-S?o Paulo, as well as runner up in the Brazilian League.

When coaching Saudi Arabia at the 1998 World Cup in France, he was fired after two matches, one of two managers to be sacked during the tournament.