Reports have suggested that Tottenham have had a bid accepted by Corinthians for Paulinho after meeting his €20million (£17m) buy-out clause.
A number of clubs have been linked with moves, with reports in Spain claiming newly appointed Real Madrid coach Carlo Ancelotti wants Paulinho - who is currently away on international duty with Brazil at the Confederations Cup.
Corinthians are resigned to losing the highly-rated midfielder and are already looking for replacements for Paulinho.
"Besides the signings we also suffered harassment of the top clubs in the world on some of our key players," read a club statement from president Mario Gobbi Filho.
"We make every effort to keep them, but we have to evaluate the good proposals and understand the goals and aspirations of life of each of our athletes.
"With the imminent departure of Paulinho we trust in football other players that are being prepared for some time, as William and Edenilson, or even the newly hired Ibson."
Paulinho, who scored Brazil's winning goal in their Conferderations Cup semi-final victory over Uruguay, was remaining coy on where his future lay.
Asked if the goal was scored by Tottenham's Paulinho or Corinthians' Paulinho, the midfielder told reporters: "This goal was scored by the Paulinho that plays for Corinthians."