MMAWeekly.com confirmed the news following an initial rumor posted on The Fight Nation website on Saturday.
Franklin later revealed his intent on his Facebook page.
“I have been in talks with ONE FC about taking a job with them. They offered me a position as VP,” he wrote. “I will be heading to ONE FC headquarters in the next few weeks to work out the details. I met with Dana and Lorenzo at the end of last year and they gave me their blessing. I will keep you posted.”
Franklin was a keynote speaker at the 2013 ONE FC Summit and his long-time trainer Matt Hume already has a role as Vice President of Operations and Competition at Asia’s biggest MMA organization.
During his prime, Franklin was widely regarded as the best middleweight fighter on the planet and his record currently stands at 29-7-1, but he has not been seen inside the Octagon since a November 2012 loss to Cung Le at UFC on Fuel TV 6 in Macau.