Trevor Birch is attempting to restructure the club's finances to find the money needed to bring Strachan to Elland Road.
Writing in the Leeds programme, Birch said: “The important thing is rather than making a quick decision, we have to make the right decision.
“Each club is different. You can’t just say that because a manager is successful at one club, he will be a hit somewhere else.
“It’s a crucial appointment. Premier League survival is the name of the game at the moment but we are also looking to where we should be longer term.
“You also need the vision to ask: ‘Is this the man to take Leeds United forward when we stay up?”’
Leeds are also said to be in talks with a wealthy Arabian over a potential takeover.
The Times says long-time United supporter Sheik Murbarak al-Khalifa has agreed to buy out Leeds for £65m.
The Sheik is a regular visitor to Elland Road. He also has a close friendship with Leeds plc chairman Allan Leighton.
It's understood Al-Khalifa has only one condition for the takeover- Leeds must get Southampton manager Gordon Strachan.