Postecoglou won two NSL titles as a player with South and coached them to two titles as a rookie coach in the late 1990s.

He also guided the club at the Club World Cup in 2000 in Brazil playing against sides like Manchester United.

Postecoglou continues to be linked with a move back to his hometown.

However Roar are desperate to keep the 46-year-old championship-winning coach beyond the current two years remaining on his contract.

The Brisbane club are set to offer him an expanded role at the club but when quizzed on the speculation, Postecoglou told AAP: "People will always speculate.

"From my point of view, we have a massive month to go in both competitions [A-League and ACL]. I am not wasting my time or thoughts on anything else.

"That sort of thing is settled during the off-season.”

If his future is settled in the off-season and the former Socceroo and national youth coach signs with Victory it would be one of the biggest stories in the domestic game.

And South Melbourne, currently flying high in the VPL, believe they could benefit from having a club great like Postecoglou in the same city.

“We’re obviously pleased that a former player and coach has gone on and done so well at Roar,” said South’s communications manager George Triantos.

“Whenever Ange and Paul Trimboli [Roar’s GM of football], another South great, are in town they often come down to the club.

“They are both prodigal sons of the club and for sure, if Victory signed Ange it would give us a greater spotlight for our new stadium at Lakeside and club generally as we continue to expand our membership base."

He added: “There are a few of our fans who have memberships to both our club and the A-League.

“If Ange signed with Victory, I’d imagine that number would increase.”