Weekend reports suggest Mr Nadhmi Auchi was preparing a bid to buy out the current administration with plans to move the club from Elland Road into another purpose-built stadium.
But a statement released said: "The club can confirm that no such negotiations to buy the club have taken place with Mr Auchi.
"The board of directors at Leeds United are frustrated another takeover-based story has appeared in the media without foundation, which only creates uncertainty at a time when they are working to establish a solid foundation for future success at the club.
"As has been previously stated, the club is committed to staying at Elland Road and will continue to examine all opportunities open to them, both in terms of developing the site at Elland Road, around the football stadium, or any investment interest."
But a statement released said: "The club can confirm that no such negotiations to buy the club have taken place with Mr Auchi.
"The board of directors at Leeds United are frustrated another takeover-based story has appeared in the media without foundation, which only creates uncertainty at a time when they are working to establish a solid foundation for future success at the club.
"As has been previously stated, the club is committed to staying at Elland Road and will continue to examine all opportunities open to them, both in terms of developing the site at Elland Road, around the football stadium, or any investment interest."