Marseille - Toulon's outspoken president Mourad Boudjellal is set to sell his controlling share in the French Top 14 club, sports daily L'Equipe reported on Saturday.
The 80-year-old pharmaceuticals magnate Bernard Lemaitre, who currently holds a 44 percent stake in Toulon will become majority shareholder on Monday, the paper suggested.
Boudjellal, 59, a comic-book publisher with a flair for public relations, is set to remain as club president for the time being but is thought to be targeting the presidency of the French national league.
His tenure at the 111-year-old club has brought unprecedented success with three European Cups and France's Top 14 title in 2014.
Since taking over sole control in 2007 Boudjellal has bought a series of world class players such as Ma'a Nonu, Sonny Bill Williams, Jonny Wilkinson and Bryan Habana.
His latest headline capture was South African World Cup winner Eben Etzebeth.
Contacted by AFP neither he nor Lemaitre would comment on the news.
Toulon are currently fifth in the Top 14, 15 points behind leaders Lyon.