The investment fund, Qatar Sports Investment, led by PSG president Nasser Al-Khelaïfi, is shopping in England for a new club.
QSI have been linked with Sheffield Wednesday in recent months.
However, The Times says they're now favourites to buy Leeds. Andrea Radrizzani, the current owner, has received more than 20 proposals, three of which caught his attention.
And among them, the offer of QSI is said to be the most interesting.