According to the report, Shanahan will resign his position as the NHL’s director of player safety as early as Friday and join the Leafs this weekend, possibly as the team's president.
The Maple Leafs have missed the playoffs in eight of the past nine seasons and have a 38-34-4 record this season. They were eliminated from playoff contention last week.
Shanahan as been the league's chief disciplinarian since 2011, handing out all player punishments.
Shanahan had a profilic 22-year career in the NHL, scoring 656 goals and compiling 698 assists, winning three Stanley Cups with the Detroit Red Wings and being named to eight All-Star games. He was inducted into the Hockey Hall of Fame last year.