He said his supporters would contest the upcoming panchayat polls under a new entity--'Samarth Vikas Panel'.
Addressing a rally of his supporters here, Rane said he would announce the decision of "going in a new direction" at a press conference on September 21.
"On September 21, we will take a decision of going in a new direction," Rane told his supporters, amid speculation that he may be on way to joining the BJP along with sons Nilesh, a former MP, and Nitesh, an MLA.
The Maratha leader, a former Shiv Sena man, also hit out at the state Congress chief Ashok Chavan and the AICC in-charge for Maharashtra Mohan Prakash for the decision to dissolve the district committee in Sindhudurg, his home district, omitting office-bearers perceived to be close to him.
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"If Congress doesn't want us, we will think over it. I will address a press conference on September 21. On the first day of Navratri festival, I will announce the decision. Won't do so in the ongoing 'pitra paksha'," Rane said.
Chavan is an accused in the Adarsh scam case in which flats meant for war widows and military personnel were allotted to civilians. There were several other alleged violations of rules.
If Congress takes any decision about me tomorrow, it should be kept in mind that people of the state are behind me, Rane said.
Targeting Chavan and Mohan Prakash, Rane said the Congress has lost several elections since the Lok Sabha polls but they continue in their posts.
Claiming that the Congress performed "best" in Sindhudurg, Rane alleged the new district party chief Vikas Sawant landed the post as a "gift for spying on me".
"Sawant can't win even a single seat for the party," he said.
There has been speculation in state political circles for quite some time that Rane may join the ruling BJP.
There were reports that Rane met BJP president Amit Shah in Ahmedabad a few months ago. During the recent Ganesh festival, Maharashtra chief minister Devendra Fadnavis had visited Rane's residence, fuelling the speculation further.