Barend van Graan (54) has been offered the job as chief executive of the Blue Bulls Company.
Blue Bulls Rugby Union president Boet Fick confirmed this on Wednesday.
"After much deliberation, the province's union committee decided that Barend is the man for the job.
"We had a few other candidates, but we believe he is the man to take the company forward," said Fick.
Van Graan, who has been acting CEO since the departure of Stefan Pretorius last year, has been credited with intelligently managing the company's financial affairs.
Van Graan is no stranger to Loftus; he was chief executive before resigning in 2001, when Pretorius took over from him.
He said: "I haven't signed yet, but I will do so once we have sorted out a few minor details. I am looking forward to the job and I know there are plenty of challenges ahead, but I am fully committed."
Van Graan's immediate mission will be to stem the tide of senior Blue Bulls players leaving South Africa seeking higher salaries overseas.