Leeds United's owners GFH Capital have rejected a bid from an unnamed Yorkshire consortium to take a controlling stake in the club.
The bid for a 51% share in Leeds was made yesterday but despite dismissing the offer GFH have confirmed that they are actively seeking new investment to help them bring success to Elland Road.
An official statement on the club's website titled 'A message to fans' read: "We are aware of growing speculation regarding new investment at Leeds United.
"As can be expected with a club as fantastic as Leeds United, since our acquisition we have received several offers to invest in the club alongside us. The most recent offer was for a majority stake and has not been accepted.
"Although we continue to seek strategic investors, we will only bring on board those who we feel can make a positive contribution to the sustainable success of Leeds United."
GFH only completed a takeover of Leeds on December 21 after buying out Ken Bates for a reported fee of £52m.