Marsaxlokk FC will elect a new president during their annual general meeting next month after Victor Sciriha confirmed his intention to quit his post.
Sciriha had made his announcement in the wake of Marsaxlokk's exit from the FA Trophy at the semi-finals stage where they lost to Msida St Joseph on penalties.
Marsaxlokk's ascent to the top echelons of local football over the last few years has been triggered by Sciriha's hefty spending on new players.
His decision is bound to be viewed as a massive setback for the team's ambitions to establish themselves in the Premier League. However, sources have told The Times that Sciriha intends to remain involved in the running of the club but in a different capacity.
Reports suggest that club members could be asked to vote in favour of appointing Sciriha as chairman or honorary president.
Moreover, at the AGM on June 9, a member of Sciriha's family is widely expected to propose himself for election to the committee with a view to taking over the presidency.
Apart from Sciriha, two other committee members, secretary Carmen Carabott and treasurer Peter Carabott, have informed the club that they will not seek re-election, a statement from Marsaxlokk said.
The imminent changes in the club's administrative set-up do not seem to have undermined their reputation for their busy wheeling and dealing in the transfer market. Marsaxlokk have already secured the services of Malta U-21 goalkeeper Reuben Gauci whose contract with Floriana expired at the end of the season.
Pietà midfielder Gareth Sciberras is another target for the southerners who are also keen on engaging three quality foreign players this summer to bolster their squad.
David Carabott, the former Malta skipper, will not play for Marsaxlokk after the end of his loan spell with Ghajnsielem.
Last week, Carabott, 37, reached an agreement with Sciriha to buy his release from the club and is now free to negotiate with other suitors.
Richard Buhagiar and Daniel Bogdanovic, who also turned out for Gozo champions Ghajnsielem in the past few months, have also been told to find a new club.