Newcastle United and Arsenal are known to be interested in the England international, but acting chairman Trevor Birch is adopting a firm stance in keeping the player at the club.
Leeds need to raise £5m by Monday to keep the club out of administration, but Birch is determined not to raise that cash by selling star players.
He has gone public in his views on the damaging effect that more sales would have and he remains determined to give Eddie Gray the best chance possible to keep the club in the Premier League.
He is already slashing costs in other areas. United are understood to be stopping payments to former players. Robbie Fowler is owed around £3m while Olivier Dacourt, Robbie Keane, Paul Okon and Cyril Chapuis are all on the creditors list.