The Ligue 1 club's president Jean-François Soucasse claimed the versatile 18-year-old will be frozen out after rejecting a large and "unprecedented" pay offer.
Todibo will be available for free in January if he still refuses to commit to Toulouse.
And French website Ladepeche say Lille, Bundesliga high-fliers RB Leipzig, Lille and at least two Premier League clubs are on his trail.
Toulouse boss Alain Casanove described Todibe's failure to sign as "treason".
But earlier he put the 6ft 3ins starlet in his starting line-up ten times this season after switching him from midfield to central defence.
Soucasse said: "As long as there is no decision on his side, there will be sidelining.
"We are waiting patiently for his decision
"The situation and the reality are all relatively simple.
"The club has.. many weeks of negotiations with the player and his entourage in order to make him sign his first professional contract.
"Todibo will be free in January to engage wherever he wants for a few hundred thousand euros as a training allowance.
"He was presented with an unprecedented salary proposal in the history of Téfécé.
"That is to say very much above the previous [Issa] Diop and [Alban] Lafont to name only recent cases.
"At the beginning of the week, Jean-Clair updated us.. indicating that he still did not know what direction to give to his career. "
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