The Wallabies wing has notified the Reds that he will not be taking up his option of a further year with the Super Rugby outfit.
According to the Australian newspaper, Ioane is on the verge of joining the Parisian club, although other Top14 clubs are interested in securing his signature.
Ioane intends to leave the Reds at the end of the season, following any involvement in the Wallabies Test series with the British & Irish Lions and Rugby Championship.
A move overseas will end Ioane's international career with the Australian Rugby Union employing a rule that blocks their selection of those playing abroad.
But Reds coach Ewen McKenzie remains hopeful that the dispute will be resolved and that Ioane will remain with the Queensland side next seaon.
"You know my motto: Never say never," McKenzie said. "We'll just see. Until there's pen on paper, it's never say never for me.
"I have no trouble working with Digby. We've always got on well together.
"The issue is being handled by the front office. The football department is not getting involved, so it is business as usual as far as we are concerned."