Reid survived a board-room inquest but friends believe he is so upset with the way things have been handled that he may leave after just 195 days and 16 games in charge.
He is upset that his efforts to trim the wage bill and put out a side on no transfer fees have still not won him long-term backing.
Today's game against Blackburn may be his last. One source close to Reid said in The Independent: "Peter would ideally win, leave the club in a better state and then quit."
If Reid leaves it would involve a financial settlement with the club. Something that may have been discussed with McKenzie at the hotel meeting in Halifax.
Leeds would then be clear to approach a new manager with Nottingham Forest's Paul Hart the firm favourite.