The club – currently bottom of the league – has faced months of turmoil after a high-rolling gamble on winning qualification to the lucrative Champions League faltered.
Current debts are around £80m and to add to its woes, recent efforts to secure funding have so far failed to produce a vital cash injection.
Now it has announced to the London Stock Exchange it may have to go into administration in a bid to sort out its financial predicament.
At the time of writing, the share price in Leeds United plc had dipped by more than 28 percent.
