According to the Leeds United Supporters Trust, the proposed takeover of the Championship club has collapsed.
Leeds confirmed on June 26 that an unnamed group of investors, believed to be from the Middle East, had been granted due diligence and it was widely expected a takeover deal would be reached soon after.
LUST issued the following statement on Twitter: "The Leeds United Supporters Trust can confirm that the deal to buy the club has now collapsed."
The statement continued: "We will be making a more detailed statement later on [Thursday] once we have had the chance to establish more."
It is understood concerns about the takeover emerged on Wednesday when Leeds chief executive Shaun Harvey flew out to Monaco to meet with chairman Ken Bates.