The People says Richards is poised to quit his deal with Jerome Anderson's SEM agency which expires at the end of the year ... and he will not commit to a new City deal while this arrangement is in place.
Rival agencies have been in talks, but Richards senior could yet take over the business affairs of his son.
He is entitled to do that - and earn the agent's fee for himself.
However, Anderson has negotiated the huge terms over the past six months to a level where they have reached an initial £50,000-a-week for the 19-year-old and will not take the setback lying down.
Richards is already losing around £38,000-a-week by stalling on the City deal. By the time he gives in his notice to SEM that total will be around £450,000.