RIO DE JANEIRO - Brazilian club Cruzeiro on Sunday confirmed the departure of former Brazil national coach Mano Menezes to Shandong Luneng.

The 53-year-old revealed last week that he was close to signing with the Chinese club after receiving an offer that was "out of this world".

"Mano Menezes has told the club that he has accepted a position with China's Shandong Luneng," Cruzeiro said in a statement on the club's official website. "We hope to announce a new coach in the coming days."

Menezes agreed to pay a 1.8 million U.S. dollars contractual buyout fee out of his own pocket, according to Brazilian portal Gazeta Esportiva.

Cruzeiro said they would announce Menezes' replacement "within days". Former Real Madrid, Internazionale and AC Milan midfielder Clarence Seedorf is favorite to assume the vacant position.