Spurs are prepared to increase their offer to around £6m for the duo, but Leeds' demands may be too much for Tottenham chairman Daniel Levy.
The bid came just hours after Levy promised his shareholders that a major spending spree was imminent.
Levy was speaking after an EGM had approved a £15m share scheme to provide acting boss David Pleat with transfer funds.
Despite Leeds requiring £5m to continue until the end of the season, they are not prepared to sell off anyone at bargain basement prices.
One player definitely leaving Elland Road is Roque Junior, who has agreed to have his contract terminated, with the AC Milan defender likely to join Hamburg or Perugia.