Porto, UEFA Cup holders, are favourites to provide Rivaldo with a new footballing home.
Brazil’s 31-year-old World Cup winner, freed by Milan last month, had been growing desperate in his search for a new club.
After Premiership interest vanished he received an offer from Spain’s Espanyol only to turn it down in the belief that Sao Paulo wanted to take him home to Brazil. Sao Paolo then decided they could not afford him.
Botafogo were applying for help from the Rio de Janeiro council to fund an offer when Porto stepped in. They have offered Rivaldo an 18-month deal which would take him through until the end of June 2005.