But as the podcast faces an uncertain future and Today settles into a new hosting era, whispers of a possible return to television have begun to circulate again.

And one upcoming change at the breakfast program could make the timing particularly interesting.

Karl’s next chapter has not gone to plan

When Stefanovic left Nine earlier this year, the podcast appeared to offer him a way to build a career outside traditional television.

The show initially attracted significant attention and became an important part of his independent media plans.

But the venture has since been hit by a serious breakdown between Stefanovic and business partner Keshnee Ibrahim, with the future ownership of the podcast now being reshaped.

The Karl Stefanovic Show also went quiet for several weeks before new content returned, adding to questions about the direction of the business.

The dispute has already led to an agreed move towards Karl buying out Ibrahim’s interest, with an independent valuation being used to determine the value of her stake. A further court hearing is scheduled for October.

That uncertainty has inevitably put more attention on what Karl might do next.

Now, there are whispers about Today

According to a source quoted by New Idea, Stefanovic has been pushing for another opportunity at Nine and has been considering a return to the television program he left behind.

The claim has not been publicly confirmed by Karl or Nine.

But the idea has emerged at an interesting moment.

With the podcast no longer looking like the straightforward next step it once appeared to be, television could once again become an attractive option for the veteran presenter.

One source described a return to TV as an “easy solution” that could provide Stefanovic with greater professional and financial security.

The person at the centre of the timing is Sylvia Jeffreys

There is one particularly intriguing detail behind the speculation.

Karl’s sister-in-law, Sylvia Jeffreys, is now one of the official Today hosts alongside Tom Steinfort.

And Jeffreys is pregnant with her third child.

She is expected to take maternity leave in due course, meaning there will eventually be another period of change around the Today hosting desk.

That does not mean Karl will return.

There is currently no confirmation that Nine is considering bringing him back, nor that Stefanovic has been offered a position.

But the timing has inevitably fuelled speculation about whether the door could one day open again.

Sylvia has already acknowledged Karl’s legacy

On her first day as an official Today host, Jeffreys openly acknowledged the complicated emotions surrounding the program’s latest transition

Speaking alongside Steinfort, she recognised the work done by Sarah Abo, Karl and the wider Today team over the years.

She said she and Steinfort would work hard to continue that legacy for viewers.

It was a brief but notable acknowledgment of the former host at the very moment a new era was beginning.

Now, with Sylvia preparing for another major change in her personal life, Karl’s name has unexpectedly resurfaced in conversations about the program.

Karl has previously insisted he was ready for something different

Following his departure from Nine, Stefanovic presented the move as an opportunity to take control of his future.

The podcast gave him the freedom to pursue conversations outside the traditional breakfast-TV format and develop a platform of his own.

At the time, that seemed to signal a definitive break from the early-morning studio where he had spent so many years.

But the reality of building an independent media business has proved considerably more complicated.

The podcast has faced ownership turmoil, a production pause and a major restructuring of the relationship behind the show.

Now, according to the New Idea source, Karl may be reassessing just how much he still has to offer television.

A return would be an extraordinary full-circle moment

Stefanovic’s relationship with Today stretches back years, and his departure brought an end to one of the most recognisable eras of the program.

He is now watching a very different team take over.

Tom Steinfort has stepped into the role beside Sylvia Jeffreys, Sarah Abo has left the network, and the breakfast program is moving into a new phase.

For Karl to eventually return would therefore be more than simply another presenting job.

It would bring him back to the very program from which his independent chapter began.

But much would have to change before that could happen.

The podcast may still have a future of its own

Despite the turbulence, The Karl Stefanovic Show has not disappeared.

The podcast returned after its period of silence, and the business is now moving towards a new ownership arrangement.

That means Karl may still be able to turn the project into the independent platform he originally imagined.

The question is whether he still wants that to be the entirety of his future.

The latest speculation suggests he may not be quite as ready to close the door on television as it once appeared.

For now, the door remains only a possibility

There is no confirmed Today comeback.

There is no announcement from Nine, and no public statement from Stefanovic confirming that he is seeking his old position.

What exists instead is a curious set of circumstances: an increasingly complicated podcast future, a changing Today line-up and a temporary absence that will eventually come when Sylvia Jeffreys begins maternity leave.

For a man who seemed determined to leave breakfast television behind, Karl Stefanovic’s name is suddenly back in the conversation.

And perhaps the most intriguing part is not whether he will return — but why the possibility has resurfaced now.