According to the Yorkshire Evening Post, the business consortium close to a £30m takeover deal for the club is set to ask him to take a seat in the boardroom.
Lorimer would be a hugely popular figure with the fans, someone they could relate to. He said in the YEP: "If such an approach materialises I will be only too happy to give it full consideration.
"Board members are usually successful businessmen and specialise in that area, but sometimes the input of someone who knows and understands the game of football can be invaluable.
"I felt that the board which served under Peter Ridsdale could have benefitted from the views of a football man. That was what it appeared to lack.
"If I feel that I can make a useful contribution then I will be pleased to help Leeds United all I can."
The YEP also understands that the consortium will also appoint a high-profile chairman, well known in sporting circles in the Leeds area.