Former Subway rep Fogle nears plea deal: Report

Jared Fogle's guilty plea

Former Subway spokesman Jared Fogle may be near a plea deal with prosecutors amid an ongoing child pornography investigation, a source told NBC affiliate WTHR on Tuesday.

Fogle—whose Indiana home was raided earlier this summer—has not been publicly charged with any wrongdoing. A plea deal may be limited to conspiracy charges, sources told the station.

Read MoreSubway and Jared Fogle suspend relationship

A spokesman for the Indiana U.S. Attorney's office told WTHR he could not confirm whether a news conference, reported by some local media, would take place on Wednesday. Fogle's entertainment attorney Ron Elberger declined to comment to CNBC.

Russell Taylor, a former employee of Fogle's foundation, is being held in a Kentucky federal prison, awaiting trial on child pornography charges. His attorney told WTHR he did not know about a possible Fogle plea and could not comment on whether his client has struck an agreement.

The sandwich chain last month suspended its years long relationship with Fogle, who gained fame as a proponent of his Subway diet. Subway tweeted on Tuesday that "we no longer have a relationship with Jared."