Leeds are reportedly a takeover target for Australian billionaire Frank Lowy, reports the Daily Mirror.
According to the Sydney Morning Herald, Lowy, who is chairman of the Australian FA, is interested in buying the League One outfit.
Lowy is said to have hired a Leeds-based agent to draw up a detailed report on the feasibility of replacing Ken Bates in the hot-seat at Elland Road.
Leeds have a strong connection with Down Under and Aussies Patrick Kisnorbo and Neil Kilkenny are part of Simon Grayson's squad, while Socceroos Harry Kewell and Mark Viduka have also starred for the club.
A Leeds spokesman claimed he could not comment on the reports.
Story: Ian Ferris