The Independent says the former "consultant" to the chairman, Gerald Krasner, wants a golden handshake.
Richmond's solicitors revealed that he expected a pay-off after helping the club through their troubles before he 'left' last week.
The former Bradford City chairman was declared bankrupt with debts of around £3.3m, but he argued that the money he wanted from Leeds would help pay off some of that sum.
Richmond claimed at his bankruptcy hearing that he is due a severance payment. The solicitor Hugh Jory said his employment had only recently been terminated "and there are now discussions about the package that will ensue from that".
Leeds fans will be horrified that Richmond, who claimed to be in an unpaid advisor's role, is now looking for a pay-day at a time when the club is still in debt and facing the loss of their best players.