Lifelong Whites supporter Steve Parkin is believed to have tabled a new £30m offer to take control of the club.
Leeds managing director David Richmond yesterday gave Parkin a deadline of a week to provide proof that he had the means to take Leeds forward.
The board’s delay on deciding the future of Eddie Gray may stem from their belief that an acceptable offer is imminent.
Director Melvyn Helme told the Yorkshire Evening Post: "A decision about Eddie’s future has not yet been made. There have been no approaches made by this club and no-one else should be speaking with other managers unless they are in a position to do so."
Speculation continues despite the supporters, who just want to see the club get prepared for Division One football.
John Boocock, chairman of the Leeds United Supporters Trust, said: "It is time for people to start acting like adults and give us back some sort of stability. These people are more concerned with their back pockets than the issues which affect most supporters. At the moment quite frankly many of us don’t care who plays for or manages this club just as long as we still have a team out there next season."