According to a source close to the situation, Tim Sylvia may be set to announce his decision to leave the UFC this Friday. The Fight Network is reporting that the former UFC heavyweight champion who has one fight remaining on his current UFC contract may be looking to face Fedor Emelianenko in a what would be a highly lucrative and anticipated match up.

Sylvia (24-4) sports notable wins over Andrei Arlovski (2), Ricco Rodriguez, Jeff Monson, Mike Whitehead (2) and Ben Rothwell. He recently lost to Antonio Rodrigo Noguiera after a solid performance via submission in the third round.

We'll have more on this story tomorrow after Sylvia makes his announcement.