The comments were made at a High Court hearing in Leeds today, where the club's plans to exit administration are being challenged by HM Revenue & Customs (HMRC).
KPMG said that unless the club is able to leave administration, the Football League may not let it start the season on August 11.
The Football League is as yet undecided. No-one at the Football League was immediately available for comment.
Earlier this week, businessman Simon Franks said he was ready to buy Leeds, through his Redbus investment company.
HMRC is unhappy at the plans of Leeds chairman Ken Bates to pull the club out of administration by paying creditors just 8p in every £1.
Bates has already warned that the cost of defending the court action could cost the club its future.