The SA Football Association (Safa) on Monday said there were still “procedures” being done, and until they were completed, Pitso Mosimane remained Bafana Bafana coach.
However, Safa did not want to confirm whether they include pay out agreements.
“There are procedures that need to be taken... he has not been sacked,” Safa spokesman, Dominic Chimhavi, said.
“Safa chief executive Robin Petersen is the only one mandated to speak on the matter, but we will also issue something official later.”
Bafana have a matter of hours to finalise the decision before this Saturday's Group A 2014 Fifa World Cup qualifier fixture against Botswana in Gaborone on Saturday.
Having taking a day off, Bafana players re-assemble back to their Royal Marang Hotel base camp on Tuesday in preparation for the game.
However, the embattled Mosimane is unlikely to be part of the set up as he is expected to officially part ways with Safa on the same day.
Petersen, along with Safa president Kirsten Nematandani, could not be reached for comment.
The fact that the association seeked an urgent meeting – a day after their poor 1-1 draw with Ethiopia in Rustenburg in their qualifier opener – was an indication that Mosimane had reached the end of the road.
The result against the lowly but spirited Ethiopians on Sunday was the last straw to a team that has struggled for results, especially in the last year.
Mosimane's record since taking over from Carlos Parreira in August 2010, reads: 15 matches played, five wins, seven draws and three losses.
Bafana's first victory over Egypt was a credible result during the ill-fated 2012 Africa Cup of Nations campaign.
The national team failed to qualify having misread the competition rules ahead of their final match against Sierra Leone last October.
Mosimane's public popularity has waned since then, and was not helped by an unprovoked tirade against the media in January.
The Kick.off website on Monday also reported that a formal offer had been drafted for Moroka Swallows coach Gordon Igesund to take over with immediate effect.
Swallows and Igesund are currently in China where they are playing a friendly tournament.
Igesund, the current Premier Soccer League Coach of the Year, would be a popular choice in the country.
He led the modest club to the brink of championship success this past season having aided them survive relegation the season before.
The 56-year-old was a contender for the post in 1998, shortly after the World Cup in France to replace Phillipe Troussier, which went to Trott Moloto
However, Swallows chairman Leon Prins said he had not heard anything since arriving from the far East earlier in the day.
“At the moment I'm in the garden with my wife and son,” said Prins.
“I have literally just arrived from China...where the team is doing well by the way.
“That (Igesund developments) is news to me.
“I have not heard anything, so really can't comment.
“In fact, I only got to know the Bafana score just now.”
Another person tipped to take over is Mosimane's second assistant coach, Steve Komphela, the Free State Stars mentor. Komphela is also a former Bafana captain, and is lauded for his man-management skills. – Sapa