The involvement of the current Royal Mail chairman would add credibility to the Stubbs group's bid.
A source said: "At the moment it is probably 50-50 as to whether they decide to go ahead. The problem is there is little room to manoeuvre due to time constraints.
"Even if a decision is taken on Monday to go ahead then it will take another three or four days to sort matters out. Norman's consortium is in a difficult position. The fans have to understand that if he can't do the deal then it is not his fault.
"The shenanigans involving Sainsbury have not helped and have actually wasted a lot of people's time. Norman should have been in the current position a couple of months ago. Sainsbury has caused huge problems for the people at Leeds United, but throughout it all Norman has remained interested."
Due diligence has been completed with the group having spent tens of thousands of pounds in solicitors fees and a decision is expected on Monday.