Town director Lord Ryder is reported to have told chairman David Sheepshanks that he is quitting the board. At the weekend Sheepshanks revealed that he would be adding to his board, however he made no mention of any impending departures.
It is understood that Ryder has been unhappy with his position for some while and that an announcement regarding his future will be made soon.
Ryder, a former top Tory politician, joined the club board in 1999. He is also a govenor of the BBC.
His resignation would come as a big blow to Sheepshanks keen to show his board to be united at a time when the club's financial position is still precarious, and with more player sales looking on the cards.
Ryder, a regular TWTD reader, started supporting Town in 1962 and has been following the club ever since. His is a familiar face to fans who frequently use trains from London for home and away travel.
The potential resignation of Ryder could account for the board's combined loan stock purchase dropping from an initial £400,000 - as quoted at the CVA meeting at the beginning of May - to the £350,000 reported more recently.