Southampton’s executive chairman Nicola Cortese has handed in his written resignation, according to Sky Sports.
If Cortese’s departure is confirmed, then the future of Saints boss Mauricio Pochettino could be placed into serious doubt.
Sources claim Cortese is not in talks with any clubs in Italy, despite several media reports suggesting otherwise.
Cortese considered leaving the south coast club last May, stressing to owner Katharina Liebherr that he was concerned about the direction the club was heading.
During that period, Pochettino stressed his involvement with the Saints was dependent on his chairman staying with the club.
“If (he) Cortese doesn’t work here… I would not understand a Southampton with Nicola being here,” he said last year.
“The person who has put his faith in me at Southampton is Nicola Cortese.”
Cortese fronted a deal to buy the Saints in 2009, with the club in administration in League One.
Since then, Southampton have spent more than £72million in the transfer market under the former Swiss banker.
The club have broken their transfer record three times during the Cortese era, signing Jay Rodriguez from Burnley for £6million in June 2012, Gaston Ramirez from Bologna for £12million in August 2012, and Dani Osvaldo for a reported £13million in the summer of 2013.