I have been a middle manager at my current job for a couple of years, before that I was a traditional employee. I have always aimed to take my boss´ seat, but for various reasons (I won´t bother you with the details) I have come to the conclusion that it ain´t gonna happen.

Basically, I want to give my boss an ultimatium - Either you give me permission to step down from my current position and go back to my old role (so I can pursue working on my side hustles instead) or I need to find an employer who will give me what I want. I have some alternatives, but nothing solid for the moment (obviously, he doesn´t need to know that).

Before I pull the trigger, do you see any downsides for this?

For the record I am high performance employee who always tops the charts when it comes to results. The board likes me and my boss also, and I will of course do my job seriously but only on my terms from now on. I don´t really care anymore if this means that I won´t "develop within the company". My main goal isn´t to pursue something here, but I don´t want to be fired either since for the moment need the income. I want to stay since the job offers some stability for my side hustles, if I switch I need to delay those things.

Any advice, especially from those of you who have been in a similar position, much apprechiated.