Parkin was given the approval by chairman Gerald Krasner and managing director David Richmond after weeks of wrangling between them.
The haulage magnate's advisors and accountants met with Krasner, Richmond and finance director Melvin Helme to discuss the club's books. Parkin has been looking to step in and stage his own rescue act, however, it is understood the figures are worse than he has been led to believe and it could stop his plans to take over the board, which has only been in charge eight weeks. With Leeds still owing to the Inland Revenue and Customs & Excise, as well as other minor debtors, it is believed the club are still in the red to well around £50m. With Division One football ahead of them, and losing a guaranteed revenue of more than £20m from television and other sources which come with being in the Premiership, there are still fears the club are still heading downhill. The dilemma for life-long Whites fan Parkin is whether the figures his accountants have today looked through are as bad as has been mentioned. Parkin has now made his move to ensure, if he does decide to buy, it is he and not the current board who will define the future of Leeds United.