The Mirror says Gold is ready to try and seize control at Birmingham - buying out takeover bidder Carson Yeung and naming Eric Black as his new manager.
Gold wants to conclude the business swiftly and prevent caretaker chief Black from following Steve Bruce as No.2 to Wigan.
Fellow director David Sullivan and Gold have clashed on whether to appoint a new big-name manager for their survival fight.
Sullivan and his contacts have sounded out potential managers including Harry Redknapp, Paul Jewell, Martin Jol and now Italian Marcello Lippi.
But Birmingham players and staff are convinced that Black will carry on if Gold pulls off a victory in his own power game - and an emergency board meeting brings both shock moves closer.