Gerrard, a professor of sport management and finance at Leeds University, has been very critical on how Leeds has been run over the last couple of years.
He has spoken with Birch on a couple of occasions since his initial arrival as chief executive and he feels Birch portrays the air of a man at ease with the current situation.
"My hope for the new year is the money will be on the table by the 19th (January) so Trevor Birch can get a deal done," said Gerrard.
"I've been impressed with him. He has so far not given anything away, either publicly or privately, but I feel sure he can do the job.
"His whole manner gives me the impression that, although he knows it's a difficult task he faces, he believes he can get something done in terms of a rescue.
"As far as I'm concerned, there is a sense of cautious optimism.
"Obviously, my big fear is that the money does not materialise. But I don't think that will happen because I think Allan Leighton will come through with the money.
"He is the only person with any credibility and the only person I believe in at this stage to come up with a deal."
He has spoken with Birch on a couple of occasions since his initial arrival as chief executive and he feels Birch portrays the air of a man at ease with the current situation.
"My hope for the new year is the money will be on the table by the 19th (January) so Trevor Birch can get a deal done," said Gerrard.
"I've been impressed with him. He has so far not given anything away, either publicly or privately, but I feel sure he can do the job.
"His whole manner gives me the impression that, although he knows it's a difficult task he faces, he believes he can get something done in terms of a rescue.
"As far as I'm concerned, there is a sense of cautious optimism.
"Obviously, my big fear is that the money does not materialise. But I don't think that will happen because I think Allan Leighton will come through with the money.
"He is the only person with any credibility and the only person I believe in at this stage to come up with a deal."