A payment of £1.2m is owed to the Inland Revenue by December 15, while it is also understood a further £800k is required later this month to pay off a VAT bill.
Fears are that Leeds are struggling to find the funds, sparking rumours that the club could be forced into administration before Christmas, incurring with it an automatic 10-point penalty which would drop United into the relegation spots.
Wrexham were today forced into administration, and with Leeds' financial plight a long-standing issue, it is understandable there are concerns.
Blackwell said: "We cannot allow ourselves to think about it. We have to focus on what we do. We saw what it did to morale last season, it sapped us and we were relegated.
"I don't know what's going on with the board. I know things aren't too clever, but we just have to get on with the football. We at Leeds are very proud people. This is a massive club, with massive potential and we have to get back into the Premier League.
"But we are down on our luck at the moment, although we are not going to sit and moan about it. We are going to fight to make sure we get this club back to where it belongs."
Leeds-based property developer Norman Stubbs remains in discussions with the Leeds board with regard to a £10m investment, with chairman Gerald Krasner hoping to tie up that deal by the end of next week before the Inland Revenue payment is due.