Italian Massimo Cellino has agreed to buy a 75% stake in the club, however his bid is yet to receive Football League approval.
And now it is understood that fresh talks with another interested party are set to take place, with The Sport Capital and Together Leeds consortiums teaming up in the hope of buying the club.
They have dismissed Cellino’s bid, and promise to match whatever the Italian has offered.
The news is the latest twist in the ongoing ownership saga surrounding the Championship club, who sacked manager Brian McDermott on Friday, only to reinstate him on Monday.
The decision was understood to have been made by Cellino, but chairman Nooruddin has since issued a statement informing Leeds United staff not to take instructions from anyone other than GFH.
“You will all, of course, be aware of the speculation surrounding the ownership of Leeds United FC and I wanted to let you know that GFH Capital currently retains its ownership of the club,” wrote Nooruddin.
“The existing board remains in control of the club and David [Haigh] is the managing director.
“No instructions or directions whatsoever should be taken from anyone outside the existing management structure and the board.
“Please do not hesitate to contact me or any senior member of staff should any issues arise.
“With thanks as always for your support. We all look forward to ending the current round of speculation and to marching on together as Leeds United FC.”
GFH are expected to meet the join consortium in London on Tuesday.