McCormack has plundered 28 goals in all competitions for the Elland Road outfit this term, and Beagrie, who now works as a Championship analyst for Sky Sports News, revealed that top tier teams are looking at the Scot.
He said: "I know that Premier League teams have been keeping close tabs on Leeds' financial/ownership situation, possibly hoping to get Ross at a snip.
"Cardiff, his former club, were allegedly close to taking him back and Middlesbrough's Tony Mowbray was one of a few Championship managers who failed to tempt Leeds to sell their star player and talisman.
"My gut feeling is that the new chairman will reward Ross with a new contract that will appease the player and fans, in the short term, but also guarantee any future fee would have to be substantial."
Leeds are currently 16th in the Championship.