Leeds have already sold Elland Road and their Thorp Arch training ground to cover previous cash shortfalls and the club's playing squad is short of valuable assets with a large percentage of players out of contract this summer.
However, the Leeds chairman is planning to sue over the article and said: "I want to reassure all Leeds fans that we have no intention of moving anywhere else at all and intend to stay at Elland Road, certainly as long as I am chairman.
"Another allegation made was that we would redevelop Elland Road for property, implying we would make a lot of money out of it. It's no secret that we want to redevelop around the edges to give us a seven-day-a-week, 52-weeks-a-year off-field income, and that's what we intend to do in due course."