David Drumm wants to "negotiate" with the Irish authorities and is understood to have mentally prepared himself for the prospect that he may be forced to return to his native Dublin after six years in the United States.
But the former Anglo Irish Bank chief, who is the sole bread winner for his family, is understood to be concerned about the practicalities of his potential return. Mr Drumm is said to be anxious about his prospects of making a living and providing a home here for his wife and two children.
A source familiar with the matter told the Sunday Independent: "David has drawn up a contingency plan in his head about what it would mean for him and his family if it comes to that."
The source insisted, however, that Mr Drumm has not given up hope on his fight against extradition, saying he remains determined to pursue his legal challenge despite the fact that typically only one in five such cases succeeds.
"The odds may be against him, but David hasn't given up hope of winning," they said.
Regardless of the outcome, there is still a benefit for Mr Drumm in resisting efforts by the Director of Public Prosecutions to have him extradited.
Even if Mr Drumm's challenge fails, his US lawyers are aiming to secure a reduction in the number of charges for which he would face trial here.
They will seek to have as many as possible of the 33 charges he is facing struck out on the basis that they are incompatible with US law.