Ex-Mansfield Town director Steve Hymas is in talks with chairman John Radford about a surprise return to the club.
Hymas and fellow ex-director and shareholder Andy Saunders left Mansfield in 2012 after a fall-out and subsequently took legal action against the League Two side over unpaid loans.
The pair were owed almost £1m, but were willing to negotiate.
That situation has yet to be resolved but Hymas is set to take over in a director of youth role with the Stags.
Hymas and Saunders set up AFC Mansfield soon after leaving Mansfield, in 2012, and Hymas has resigned his position as chairman of the non-league club.