This is according to YEP sources. The former Newcastle chief has been linked with United at various points throughout this season and speculation has been in overdrive that the 5pm press conference could see him being revealed as a major new backer.
But sources say that will not be the focus of the press call. Mystery still surrounds the nature of the press conference called by Leeds United at the weekend.
YEP sources have revealed Ken Bates will make a statement concerning the club.
The Whites are staging the media briefing at Elland Road, with Gary McAllister also expected to be in attendance.
The club have not given any indication over the announcement they intend to make.