Businessman Steve Parkin has been asked to pay a deposit that would give him exclusivity to buy Leeds United, according to Sky Sports News HQ.
Parkin has been linked with launching a takeover of the Whites, whose majority shareholder Massimo Cellino is looking to sell for the right price.
However, the businessman, who is a Leeds supporter and has attempted to buy the club in the past, only wants to buy half of the club.
At present Cellino is the majority shareholder at Leeds and is running the club as chairman.
Middle East group GFH Capital are the minority shareholders to the Italian, but it is not clear whether they are looking to sell any of their stake.
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Cellino did agree in principle to sell his majority shareholding to supporter group Leeds Fans United, but then backtracked.
The Italian is currently in the midst of fighting a Football League ban which would prevent him from running Leeds until next summer.
Should Parkin only buy half of the club, Cellino would retain a significant shareholding.
