Donald Trump‘s former campaign chairman Paul Manafort is close to reaching a deal with special counsel Robert Mueller, according to reports.

Manafort, 69, is said to be negotiating with prosecutors over possible guilty pleas to avoid facing a second trial just weeks after he was convicted of bank and tax fraud.

It is not clear whether any deal would include cooperation with the probe into Russian interference in the 2016 presidential election.

Manfort is awaiting trial for conspiring to launder money and defraud the United States and failing to register as a foreign agent for the tens of millions of dollars he earned lobbying for pro-Russian politicians in Ukraine.

Jury selection is scheduled to begin in Washington DC on Monday but ABC News has claimed a deal could be announced on Friday.

“It’s close but not there yet,” one of the sources said about negotiations over a deal.

Speculation over the potential impact of a deal on Mr Trump’s presidency is increasing, with Democrat strategist Scott Dworkin writing on Twitter: “If Manafort flips I bet Donald Trump will resign within two weeks.”

Others suggested cooperation was unlikely and Manafort was “angling for a pardon“ from the president.

Joshua Dressler, a law professor at Ohio State University, suggested Manafort was considering cutting his losses and avoiding the time and money needed to defend himself against a second trial.

“With eight convictions already in place, and more possible convictions awaiting him, it seems that he has been bloodied up enough to see the light,” Mr Dressler said.

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Manafort is already facing eight to 10 years in prison after being convicted in Virginia on eight counts of bank and tax fraud and failing to disclose foreign bank accounts relating to $16m (£12m) laundered through shell companies overseas.

Last month, after Mr Trump’s former lawyer Michael Cohen entered his guilty pleas in court, the president praised Manafort for “refusing to break”, adding: “Such respect for a brave man!”

Manafort worked on Mr Trump’s presidential campaign for five months, including three as chairman, before resigning in August 2016.

He was at a controversial meeting at Trump Tower in 2016 where Russians offered “dirt” on Hillary Clinton.

Rick Gates, the campaign’s deputy chairman, testified against Manafort, his former business partner, at the trial in Virginia and could be called in the second trial in Washington.

The second trial could reveal further details about Manafort’s Russian connections, including his ties to Konstantin Kilimnik, a Ukrainian-Russian political consultant said to be linked to Russian intelligence.

Prosecutors claim Manafort and Mr Kilimnik conspired to tamper with witnesses.

Mr Trump denies any collusion with Russia and has repeatedly branded the Mueller investigation a “rigged witch hunt.”