UPDATE 1-Soccer-Scolari will not rush decision on future

(adds Scolari spokesman's comments)

LISBON, May 7 (Reuters) - Portugal coach Luiz Felipe Scolari, the target of English Premier League side Manchester City according to British media, is unlikely to decide on his future before Euro 2008, a source close to the Brazilian said.

Media reported on Wednesday that Manchester City had made an offer to Scolari and that the deadline for him to accept was before the start of the Euro 2008 finals next month.

"It is very unlikely that Scolari makes any decision now, one month ahead of the championship," the source said on Wednesday.

Scolari's spokesman Acaz Felleger denied that the Brazilian had been contacted for the job.

"Any club with interest in Scolari has all the freedom to contact him. But the truth is there is no approach. Scolari has reiterated that his future will be determined only after Euro 2008," Portugal's Lusa news agency quoted Felleger as saying.

The Portuguese Federation would not comment.

Scolari, who joined Portugal in 2003, has told the Portuguese media he would only discuss his future after Euro 2008.

Speculation surrounds the future of Manchester City coach Sven-Goran Eriksson with British media reporting the former England coach would resign or be sacked after City's Thai owner Thaksin Shinawatra said he was unhappy with the club's form and wanted change.