Saints manager Mauricio Pochettino is today expected to reveal his future of the club.
It comes after the sudden exit of executive chairman Nicola Cortese from St Mary’s last night.
The Saints boss and his immediate coaching staff met with Cortese yesterday as the former executive chairman informed them of his dramatic resignation.
It is understood that Pochettino was prepared to back up his threat from the summer and quit too but was persuaded to stay on for Saturday’s game at Sunderland.
There are also fears that some of the club’s top stars like Luke Shaw, Adam Lallana and Rickie Lambert may now quit the club during this transfer window.
Cortese quit the club last night and will now be replaced by Katharina Liebherr, daughter of the late Markus, as non-executive chairman.
A statement issued to the Daily Echo said: "Southampton FC today announces that club owner Katharina Liebherr has taken on the role of non-executive Chairman.
"This follows the resignation of Nicola Cortese.
"A search has begun for a Chief Executive Officer who will take over Mr Cortese's executive duties.
Katharina Liebherr (below) said: "With great regret we have accepted the resignation of Mr Cortese. He has done a wonderful job at the club and we very much wanted him to stay.
"A search has now begun for a successor. In the meantime, it is business as usual and we will ensure that the manager, the team and all the staff at the club have all the help and support they need."
Pochettino has had a night to clear his head before facing the press at his scheduled weekly briefing this afternoon.
He is sure to be grilled about Cortese’s departure and is likely to be asked to clarify his own future after saying in the summer he would quit if his former boss was no longer at the club.
With no executive replacement for Cortese currently in situ, there is something of a power vacuum at the club.
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