Mirror Sportreported that the Austrian company could buy the Championship club for £60m and are hopeful of completing a deal within three weeks.
Speaking on Saturday morning, Cellino said that Leeds' makority shareholder Eleonora Sport were considering the offer, although Leeds chairman Andrew Umbers said he was not aware of an offer when contacted by BBC Radio Leeds.
"There is an offer. I didn’t know about it but I spoke just now with Giampaolo Caboni, one of the directors of Eleonora Sport," Cellion told the Yorkshire Evening Post.
"He said Red Bull has made an offer for the club. The shareholder will have to think about it. I don’t know what they will do."
Red Bull already own three clubs - RB Leipzig (Germany), Red Bull Salzburg (Austria) and New York Red Bulls (US) - as well as two Formula One teams, a Nascar team as well as other racing teams and a host of athletes.