But £4.5m will hardly make a dent in Leeds' massive debt and the club are hoping that al-Khalifa will plough significant money in.
The Sheikh is a lifelong Leeds fan and has been entertained by club officials in the Elland Road boardroom already this season and sources say that he has been given tours of the club's training facilities.
Al-Khalifa is an influential figure in the Bahrain FA. He was also at Leeds' Carling Cup game last night, although he took a seat outside the director's box.
Club vice-chairman Allan Leighton has given himself the task of finding a major new investment by the spring. By that time, if Leeds are still in the relegation zone, it could eventually drive the club to the brink of extinction.