According to those with knowledge of the situation, the 28-year-old goalkeeper, who has previously been linked with moves to the Middle East and Japan, is set to complete a move to a European club in the coming days.
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When that deal goes through, he will be the fourth player to depart Victory since the A-League's COVID-19 enforced hiatus -- club captain Ola Toivonen, Jakob Poulsen and Tim Hoogland having already taken their leave.
Backup goalkeeper Matt Acton, who supplanted Thomas in the starting lineup against Western United on Saturday evening, and 20-year-old Matthew Sutton remain on the club's books -- with Acton expected to serve as the first choice for the remainder of the season.
In a year of turmoil at AAMI Park, Thomas has served as one of the club's few beacons of stability, playing every minute of every match Victory's 2019-20 campaign and recording five clean sheets.
The AIS product has made 122 league appearances since debuting during the 2011-12 campaign: largely serving as Victory's first-choice keeper since the departure of Danny Vukovic ahead of the 2016-17 season.
His finest moment arrived in the 2018 Grand Final, where, bloodied and bruised, he absorbed a series of punishing blows in denying the Newcastle Jets' as Victory triumphed 1-0 and won their fourth A-League crown.
A grin beaming out from the bandages wrapped around his head, he was then awarded the Joe Marston Medal -- an award given to the player of the match in the A-League Grand Final.
The departure of Thomas represents a further blow to a Victory going through a season to forget in 2019-20, the club all but certain to miss finals football for the first time since the 2011-12 and possibly, should they not drag themselves up to eighth, their worst ever league position.
Already confirmed to be looking for a new head coach for 2020-21, interim boss Grant Brebner already ruling himself out of the post, the club is facing down the prospect of a near-total rebuild; just a small handful of players under contract for next season in the form of Robbie Kruse, Marco Rojas, Migjen Basha, and Leigh Broxham.
Following their fixture against Western United, Victory have four games remaining in their 2019-20 campaign: against Brisbane Roar on July 29, Central Coast on Aug. 3, Perth Glory on Aug. 8, and Western Sydney Wanderers on Aug. 12. The club also have six fixtures remaining in their Asian Champions' League group, likely to be played in quick succession out of a hub later this year.
Melbourne Victory was contacted for comment.