The 29-year-old midfielder was released by Paris Saint-Germain during the summer after rediscovering some consistency during a loan spell at Panathinaikos, where he made 24 appearances.
Sanches had initially prioritised remaining in Europe and rejected several financially attractive offers from Saudi Arabia and MLS during the summer in the hope of finding a competitive sporting project.
However, discussions with Getafe ultimately failed to produce an agreement, leaving the Portugal international without a club as September draws to a close.
The collapse of the negotiations has opened the door to the Brazilian market, where several clubs have now returned to the race for his signature.
Brazilâs domestic league has increasingly attracted established international players in recent seasons, with Neymar, Memphis Depay and Philippe Coutinho among those who have moved there.
Sanches is understood to be open to the possibility of continuing his career in South America after the failure to secure a return to European football.
His Portuguese background could also ease the adaptation process, particularly in terms of language and culture.
Several Brazilian clubs have shown interest, but Corinthians have reportedly moved ahead of the competition after making a second concrete offer to the midfielder.
The SĂŁo Paulo club are looking to add another high-profile name to their squad and have now stepped up their efforts to convince Sanches to move across the Atlantic.
For Sanches, the situation represents a significant change from his plans earlier in the summer.
The midfielder had been looking for a European destination after returning to PSG from his successful loan spell at Panathinaikos, where he was able to rebuild his playing time.
Instead, the failure to agree terms with Getafe has forced him to consider alternatives outside Europe.
Sanches has spent much of his career at major European clubs, including Benfica, Bayern Munich, Swansea City, Lille and PSG, while also representing Portugal at international level.
He was part of Portugalâs squad that won Euro 2016 and has remained one of the most recognisable Portuguese midfielders of his generation.
Corinthians now have an opportunity to bring that experience to Brazil, although discussions remain ongoing.
The clubâs second offer represents the latest move in a recruitment process that could give Sanches a new route back into regular football.
With his European option currently stalled, the former Portugal international must now decide whether Brazil provides the next chapter of his career.