Bates took control of United last month with a 1p-in-the-pound offer to creditors.
That means the offered eightfold increase on the original £77k promised to the taxman would push upfront payments to just over £600k, in lieu of a £7.7m debt.
Under the new offer the trigger period for a £5m payment that would be shared by creditors in the event of promotion to the Premiership has been extended from five to 10 years .
"This offer is unconditional, subject to there being no challenge to the administration and the Football League transferring Leeds United's share to the new company," said a club statement.
"This (8p-in-the-pound) payment compares favourably with dividends paid by other football clubs that have been through the administration process and with any offers that the administrators received prior to approval of the (takeover)."
Creditors have till 4pm to decide on Tuesday, on expiry of the 28-day cooling-off period granted to consider the initial offer.