The 41-year-old banker and restaurateur insisted if he was successful the club's stadium would be saved and he would re-establish Leeds as one of the country's top clubs.
"The board has two options," he declared, "the option we have put forward or the option of selling Elland Road, the pride and joy of Leeds United for the past 85 years.
"They have to make a decision which is in the best interests of the shareholders, the players and particularly the fans, and I know which way I would go."
Sainsbury said the primary intentions of his group were to buy back the Thorp Arch complex and provide manager Kevin Blackwell with cash to strengthen the team, but vowed to listen closely to fans' views.
"I want to work closely with the supporters with the objective first of getting back into the Premiership," he said, "then we must re-establish Leeds as a top club. When I was 12 years old and lived in London everybody knew who Leeds were.
"This is not going to be a Malcolm Glazer-type story or a Russian revolution," he added. "I want to be straight and avoid disappointing people. I want to communicate with the players and the supporters and to work out the next move together."