Leeds owner Massimo Cellino has reneged on plans to sell the club to supporters, Leeds Fans Utd has announced.
The Italian purchased his 75 per cent controlling interest in the Elland Road club from Gulf Finance House in April 2014.
Protests against him by Leeds fans during the defeat against Blackburn led to him telling LFU on Friday that he was willing to sell them his controlling interest.
LFU was due to meet with Cellino’s lawyers on Wednesday in a bid to gain an exclusivity period, but its plans have been thrown off track by his apparent change of heart.
“Leeds Fans Utd has just been informed by the lawyers of Massimo Cellino that he no longer wishes to sell to Leeds fans,” the statement read.
“Our insistence on him confirming his verbal offer of exclusivity in a legally binding agreement has forced transparency on his motives.
“It is much better that we identify this insincerity now before we spend our shareholder’s money.
“This exercise has proved our capacity to adapt to any acquisition scenario very quickly.
“We now know we have the capacity to do both a minority and majority deal, and it has shown that Leeds fans have a desire for fan ownership.
“We hope that Massimo will treat the club and fans with respect and honour.”
The development certainly takes the gloss off Tuesday’s 1-0 win against Cardiff – United’s first home win since March, which lifted Steve Evans’ side to 17th in the Sky Bet Championship.
Six managers have come and gone through Cellino’s reign, which has seen him twice banned by the Football League. He faces three further criminal cases in his native Italy.