Talks between the former Liverpool captain and the club are said to have advanced ahead of the appointment.
Liverpool icon Steven Gerrard is joining Saudi Pro League side Al Ettifaq and is set to be handed millions in order to build a competitive side.
The club hopes Gerrad will build a team of superstars, as his appointment could be confirmed in the next 24 hours.
This would represent a U-turn, as Gerrard had initially said he would not join a Saudi club. Expectations are that the former England midfielder will build a team to challenge for titles next season.
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Quizzed about the next chapter, Matano appeared to suggest he would be staying in order to help the club win more trophies.
"I was invited over there to look at a potential offer; I've been analyzing that, but where I stand right now, I won't be taking it on," Gerrad, who has been out of managerial work since he parted ways with Aston Villa, said earlier.
Should he finally make the move, Gerrard would join a number of high-profile figures moving to the Middle East nation.
The bosses of the Saudi Pro League club are said to be in London and have convinced the former Celtic manager of their ambitious project, which includes dominating their local competition.
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Despite the setback, the gaffer believes the Glamour Boys will bounce back and clinch the championship in the upcoming decisive match.
High-profile players from Europe are expected to move to Saudi Arabia as the country's competitions become more attractive since Cristiano Ronaldo's move to Al Nassr.
Former Chelsea goalkeeper Edouard Mendy and defender Kalidou Koulibaly have left the Premier League for Saudi Arabia too.