Leeds United said in a statement: "Leeds United AFC have had a meeting with Jody Morris and his solicitor this morning.
"In accordance with the standard provisions of the player's contract of employment, he has been suspended for up to 14 days to enable the club to conduct an internal investigation."
A second man, who is not believed to be a footballer, has also been released on police bail pending further enquiries.
Another footballer from Leeds is believed to have talked to police officers at Wetherby police station in connection with the matter but was not arrested.