Former Manchester United striker Kiko Macheda remains a free agent.
The Italian came off contract at Cardiff City last summer and trialled with Watford in October.
TMW says Macheda's future could now lay in Portugal.
Second Division Olhanense are in contact with the striker about a deal.
The key is Olhanense's new Italian sporting director, Giuseppe Bifulco, who has spoken to Macheda about moving to Portugal.