According to reports, Leeds are set to announce they have agreed an extension to their deadline for finding a rescue package.

The club, whose debts have risen to £82m, were given until 19 January to reach a deal with their creditors. But Leeds are reported to have agreed a £5m cash injection which will keep them afloat until the end of the season.

Leeds chief executive Trevor Birch said: “We’re close to an agreement with the principle creditors. It will give us an extension of at least a week.”

“That will enable us to put the funds in place to fund the club for the rest of the season. “We have some certainty then, we are either still in the Premier league or relegated and both scenarios provide different solutions.”

Sheikh Abdulrahman Bin Mubarak Al Khalifa has also been mentioned as a potential saviour for the club, but Birch said the Bahrain-based businessman had yet to come up with a proposal.

“I’m certainly getting fed up of reading what he’s about to do in the papers, it’s really a time to show us the colour of his money, to put up or shut up.’ said Birch.

“I think it’s done nobody any favours. It just raises expectations and leads to people being upset when those deadlines aren’t reached.

“It’s quite clear that nobody is out there wanting to take the risk on relegation because it brings with it a big trading loss.

“Anybody buying at this stage is taking a risk they will be on the hook for that next year.”

Birch also denied a report claiming Leeds were considering selling Elland Road and sharing with neighbours Barnsley.