Gerald Krasner, the previous chairman at Elland Road, predicted that the club could be placed in the hands of administrators early next week.
Krasner, a specialist in corporate insolvency:
"In my professional opinion, I'm 90 per cent sure that, before next Tuesday, Leeds will be in administration unless a white knight comes along."
Meanwhile Peter Ridsdale said:
"I actually believe that had I been allowed to stay around - and it was my decision to go, but clearly the pressure was such from our supporters that I couldn't take any more - I don't believe that Leeds would be in the situation they are in now."
He added: "In the end, after five very successful years, it started to go wrong, but it's gone far more wrong since I left than it did while I was there.
"I regret a number of things we did. I think I said 'yes' too often to the manager - we bought too many quality players.
"We had too many players who felt they should have been in the team every week who couldn't get in the team because we'd got 24 international players.
"Looking back, I would do things differently. I would challenge the manager more, run things tighter.
"I still don't regret taking the amount of debt on we did but I regret spending the amount of money on footballers. We did buy too many and the manager, every time he said he wanted a footballer, we said 'yes'. We should have said no."
Ridsdale strongly denied suggestions that he celebrated Leeds' demise after his own Cardiff side lost to Hull:
"Our guests were understandably relieved and overjoyed that the results from matches played last Saturday appear to have guaranteed their survival in the Championship.
"As a gesture to congratulate them, all of our visitors were offered champagne, red or white wine, beer or soft drinks.
"It is no surprise that many accepted the offer of a glass of champagne. Adam Pearson [the Hull chairman] was standing at the entrance to our directors' box some 30 minutes after the final whistle of our game and long after all supporters had left. I handed him a glass of champagne, which he accepted. As I have not had an alcoholic drink for some five or six weeks, I did not join him.
"This gesture had nothing to do with Leeds United's future. I have made my position clear on the current position of Leeds United. I am saddened by their current plight and have always wished them well, as I continue to do so."