Leeds are hopeful of securing a 48-hour extension to the deadline for avoiding going into administration, as hopes rise that a takeover bid for the beleaguered club is imminent.

A group of Yorkshire businessman is said to have tabled an offer of about £20m for the debt-ridden club.

The consortium is not linked with former deputy chairman Allan Leighton, who has been linked with a takeover bid.

Unless a takeover bid is successful, Leeds may be forced to sell players before the end of this month’s transfer window – with Alan Smith, Paul Robinson, James Milner and Mark Viduka all linked with moves recently.

With Leeds needing to raise £5m to continue trading until the end of the season, the club has also discussed the option of the playing squad taking a wage deferral.