Leeds United today labeled talk of an imminent takeover as "pure speculation".
The Elland Road club are £78 million sterling in debt and warned last week they are on the brink of administration.
But fans' hopes were lifted over the weekend when Sheikh Abdul bin Mubarak Al-Khalifa of Bahrain said he was attempting to broker a deal that would see a consortium of Middle Eastern businessmen take over the club.
He claimed a "positive outcome" was likely in the next week or so - something Leeds United plc today dismissed.
Their statement to the Stock Exchange read: "The board of Leeds United plc notes recent press reports about a potential bid for the company. The board wishes to make it clear that it has received no bid approach from any party and therefore regards the reports as pure speculation."
PA