The Leeds board will now make a decision over the next 48 hours, with Kevin Blackwell likely to be the name confirmed on Monday.
Chairman Gerald Krasner and his board conducted a three-hour meeting at Elland Road this afternoon to discuss the candidates they had interviewed over the past few days.
Blackwell is believed to be in the running along with Rotherham's Ronnie Moore and Peter Jackson of Huddersfield.
Despite his lack of managerial experience, Blackwell is a highly respected coach and Leeds would not have to pay compensation for another manager currently in employment.
It is also understood that lifelong Leeds supporter Steve Parkin, chief executive of the Brighouse-based Clipper Group of companies which is involved in haulage, warehousing and security, is now close to concluding a buyout from Krasner.
Should Parkin take over, and if Blackwell is appointed as anticipated, his reign could be one of the shortest on record if Parkin decides he wants his own man at the helm at Elland Road.