Ronaldinho's brother and agent, Roberto de Assis, said that the Guayaquil club are near a deal for the club's "Noche Amarilla."
Estudiantes thrashed Independiente Del Valle 4-0 on Thursday to advance to the group stages of the Copa Libertadores.
Ecuadorian football is on the rise and the country's league play continues to grow with tons of exciting rivalries.
Emelec lost 1-0 to Barcelona in the latest installment of the country's biggest local rivalry, the "shipyard derby" in the port city of Guayaquil.
Ecuadorian league leaders Emelec caused an upset when they beat Fluminense in the Copa Libertadores last 16