The current board will discuss tomorrow, amongst other things, a takeover by a consortium led by haulage magnate Steve Parkin, whose £23m bid was turned down last week.
Leeds fan Parkin is said to have the finances in place to buy out chairman Gerald Krasner's shareholding and help rebuild the club in Division One.
Parkin says he will re-invest money from the sales of players like Alan Smith and Mark Viduka towards a new squad.
Dr Bill Gerrard, a professor of sport management and finance at Leeds University Business School and also a life-long Leeds fan, said: "We now need to draw a line in the sand. What's happened is history and we have to build from here. We have gone over it in detail for the last 18 months. We know who made the mistakes and what the mistakes were.
"The important thing is the revival of the club and that it gets back on a sound financial footing with new owners coming in and investing funds to give us a proper financial base. I know Leeds United will be back, but not with these current owners, but with a management team able to run the club properly.
"They [Krasner and his board] should accept the takeover from people ready to put the money in and get this club sorted out. I believe Adulant Force will give up Leeds United in the near future and that Leeds fans on a firmer financial footing will come in and run the club."
As far as Gerrard is concerned, Parkin passes what he describes as 'the hearts, heads and pockets test' and feels he is the right man to carry Leeds into a new era.
"My information is the consortium have passed that test," confirmed Gerrard. "They are Leeds United people, they are successful business people and they know how the club should be run and can put the right people in place to run it properly and to give it financial stability.
"Everything I have heard gives me grounds for optimism. I am the most optimistic I have been for 18 months that things will get sorted off the pitch."